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Bitcoin reigns supreme, but Ethereum is gaining traction for retail investment offerings.
According to CoinShares, a digital asset fund manager, institutional-grade crypto asset investment product inflows have already hit all-time highs in 2021.
According to Coinshares’ March 15 Investment Flows Weekly survey, first-quarter inflows into cryptocurrency funds are up 7.7 percent and have already surpassed the quarterly high of $3.9 billion set in Q4 2020.
Grayscale, CoinShares, 3iQ, ETC Issuance, and 21Shares are the five digital asset investment firms with more than a billion dollars in funds under administration, or AUM. According to the survey, the recently established Purpose Bitcoin fund ranks sixth with $517 million in AUM.
According to the survey, crypto asset investment funds closed on Friday, March 12 with a whopping $55.8 billion in assets under control, after a week of positive market action. These investment commodity forms saw a $242 million inflow, a 124 percent increase from the previous week’s $108 million.
Although Bitcoin tends to be the dominant asset, funds streaming into Ethereum-based investment products have risen as the asset gains traction among institutional investors. The week ended March 12 saw a $113.5 million inflow, accounting for nearly half of the amount.
According to the survey, multi-asset funds rank seventh, with a recorded weekly inflow of $3.6 million and a total AUM of $2.3 billion. The only digital asset items that saw a decrease in inflows for the week were those focused on Ripple, which saw a million dollar outflow for the week.
According to the study, Bitcoin trade rates on trusted platforms have been marginally above normal, at $11.8 billion a day, relative to $10.8 billion a day on average for 2021.
Grayscale, a leading global crypto asset fund, announced $42.9 billion in assets under management in its most recent release, with its famous Bitcoin Trust accounting for 84 percent of the amount.