Institutional managers hold a record $13.9B worth of Ethereum
May 4, 2021. Summarized by summa-bot.
Compression ratio: 43.6%. 1 min read.
Inflow into ETH appears to be ramping up as investors devote greater attention and resources to the smart-contract platform.
Institutional investment managers bought $30. 2 million worth of Ethereum (ETH) last week, bringing their total holdings to a record $13. 9 billion, according to CoinShares.
The weekly inflows report showed strong growth across most digital assets, with the exception of Bitcoin Cash (BCH), where inflows fell by $1. 7 million.
Weekly inflows across all assets reached $489 million, with Bitcoin (BTC) accounting for the largest amount at $441. 7 million.
Total assets under management devoted to crypto are now $64. 7 billion, a gain of roughly $7 billion over the past six weeks.
In particular, weekly inflows flat-lined for Grayscale, declined by $46 million for CoinShares and spiked $554. 1 million for 3iQ, which manages Canada’s first Bitcoin exchange-traded fund.