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According to the most recent CoinShares survey, weekly inflows into Ethereum investment products continue to rise.
According to CoinShares, institutional investment managers purchased $30.2 million in Ethereum (ETH) last week, taking their overall reserves to a whopping $13.9 billion.
Inflows into Ethereum products continue to be the as investors commit more time and money to the smart-contract network. Inflows into ETH goods have totalled $170 million so far this month, taking the yearly figure to $824 million. Managers currently own a total of $13.9 billion in ETH.
The weekly inflows study saw good growth in most digital currencies, with the exception of Bitcoin Cash (BCH), which saw a $1.7 million drop in inflows. Weekly inflows across all securities totalled $489 million, with Bitcoin (BTC) responsible for $441.7 million of that total.
Total crypto assets under administration are currently $64.7 billion, up nearly $7 billion in the last six weeks.
“The high inflows conceal varied flows amongst providers, with many seeing outflows in Europe while their North American peers saw strong inflows,” CoinShares are described. Weekly inflows were flat for Grayscale, down $46 million for CoinShares, and up $554.1 million for 3iQ, which operates Canada’s first Bitcoin exchange-traded fund.
According to Coingecko, the market capitalisation of all securities reached $2.398 billion this week, with Ethereum leading the way. This is more than the previous April 16 high of $2.343 billion.
The price of ETH has risen dramatically in the last week, reaching a new peak over $3,500. The second-largest cryptocurrency seems to be holding up well in the midst of the current correction, which saw Bitcoin dropping 6% and the stock market lose about $150 billion from its recent peak.