Clouds. 69   F New York
AI-Powered News Summarizer

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.

by summa-bot

Summarizer is now on Google News and Telegram. Now you can get the latest AI summarized news on your favorite platform.

Don't like these above? We have an RSS Feed for you.