Ethereum Investment Product’s Market Share Increases to Reach a Record Highs
While Ethereum saw $47 million inflows last week, Bitcoin had yet another week, a hattrick, of outflows. Ether products now have a total of $11.83 billion in AUM compared to Bitcoin’s $30 bln.
Bitcoin struck a hattrick of outflows as the week ending May 31st also recorded another set of outflows focussed on Bitcoin investment products.
However, outflows were minor at just $4 million last week. Over the last three weeks, the total outflows come at $246 million, representing only 0.80% of assets under management (AUM).
Bitcoin (BTC) investment products’ inflows remain positive for this year at $4.4 billion. BTC 4.61% Bitcoin / USD BTCUSD $ 37,358.87
$1,722.244.61% Volume 33.61 b Change $1,722.24 Open $37,358.87 Circulating 18.73 m Market Cap 699.88 b 4 h Yearn Finance TVL and Total Users Hits a New ATH Amidst Weak Price Action 1 d Bitcoin Taproot Upgrade Officially Locked in For November Activation 1 d Cryptocurrency Mining Bill Dies Down After New York Union 'Opposes'
Investors actually took the opportunity to buy the dips with net inflows into investment products of $74 million last week, following the record outflow for the two consecutive weeks that totaled $151 million, representing 0.34% of assets under management.
And Ethereum received the most of it with its inflows totaling $47 million last week.
This had Ethereum investment product’s market share increasing to reach a record high of 27%, as per CoinShares report.
Altcoins remain particularly popular, especially proof-of-stake coins. Cardano (ADA), Polkadot (DOT), and Ripple (XRP) recorded inflows of $5.2 million, $3.8 million, and $4.5 million respectively. ADA 1.14% Cardano / USD ADAUSD $ 1.48
$0.021.14% Volume 2.31 b Change $0.02 Open $1.48 Circulating 31.95 b Market Cap 47.35 b 2 d Largest Korean Exchange Upbit Goes on a Delisting Spree Ahead of New Regulation 5 d Early Turn in Sentiment Seen as Crypto Asset Investment Products Record Inflows 1 w Cardano Partners with Multi-Billion Blockchain, Nervos to Launch First Interoperability Feature DOT 1.55% Polkadot / USD DOTUSD $ 21.25
$0.331.55% Volume 1.02 b Change $0.33 Open $21.25 Circulating 951.91 m Market Cap 20.23 b 2 d Karura Network Raises $100M in Push for A Slot in Kusama Parachain Auction 5 d Polkadot Ecosystem Hits a Milestone as Kusama’s First Functional Parachain Goes Live 1 w ETH 2.0 is Already the Largest Proof of Stake Network and Vitalik isn’t Concerned About Competitors XRP 2.25% XRP / USD XRPUSD $ 0.86
$0.022.25% Volume 2.7 b Change $0.02 Open $0.86 Circulating 46.19 b Market Cap 39.63 b 2 d Largest Korean Exchange Upbit Goes on a Delisting Spree Ahead of New Regulation 3 d Flare Network Raises $11 Million in Funding to Bring Smart Contracts to All Blockchains 4 d Aggrieved Coinbase Customers Locked Out of their Accounts Drag Exchange To Court
When it comes to digital asset managers, the largest Grayscale Investments and Bitwise didn’t have any inflows last week, but while Grayscale managed to see some, $0.5 million, in the entire last month, Bitwise didn't see any.
Last week, 21Shares had the largest inflows of $34.8 million, followed by $30.6 million by Purpose, which launched the first Bitcoin ETF in North America and its Ether ETF trading at the Toronto Stock Exchange.