As institutional demand for Ethereum continues to grow, Ether products now represent over a quarter of assets under management (AUM) of crypto investment products.
June 1 according to CoinShares Digital asset fund inflows weekly Reportedly, the past week saw significant institutional inflows of $74 million as investors raised . had sought to take advantage of the fall from recent accident In which many crypto assets lose more than 50% of their value.
More than 63% of institutional inflows were injected into Ether products, or a total of $46.8 million. Ether products now represent 27% of the combined AUM for crypto investment products – the highest share ever.
Significant inflows were also made to several crypto assets ($11.1 million) as well as products targeting Cardano ($5.2 million), XRP ($4.5 million), and Polkadot ($3.8 million).
Outflows from bitcoin products have slowed, with nearly $4 million of capital exiting the market – below $110.9 million last week in the outflow. Over the past three weeks, $246 million has been run out of BTC investment products.
Despite bitcoin’s 30-day inflow of $47.9 million is currently equivalent to about one-third of ether’s $147.7 million, bitcoin still dominates year-on-year inflows with roughly $4.4 billion compared to ether’s $973 million. is.
However, Ether’s recent momentum has given rise to renewed speculation as to whether Ethereum is preparing its flip Bitcoin is currently beating the honeybagger of crypto with Ethereum based on transaction count, volume and fees, and trading volume.
According to CoinGecko, Ether is currently the second most traded crypto asset with a daily volume of $38.8 billion, behind only Tether’s $103 billion. Roughly $32.9 worth of BTC has changed over the past 24 hours.