Positive Momentum for Ethereum Continues with Another $60 Million in Inflows: CoinShares Report

Crypto asset investment products saw a resurgence of demand last week with inflows of $373 million, as per the data provided by CoinShares.

While continuous outflows were seen in some of both the Bitcoin and Ethereum’s individual products, reflecting profit-taking behavior was only a negligible 0.27% and 0.1% of total assets under management. BTC 2.13% Bitcoin / USD BTCUSD $ 42,648.28
$908.412.13% Volume 17.2 b Change $908.41 Open $42,648.28 Circulating 18.94 m Market Cap 807.56 b 2 w SEC Commissioner says NFTs Might Fall Within Their Jurisdiction, Gensler Hires Senate Aid for Crypto Policy 2 w A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 3 w Bitcoin and Ether Dump More Going Into Year-End, ETH Killers Showing Great Momentum

The positive momentum for Ethereum kept on last week as well, with $60 million in inflows bringing the total assets under management to a new record of $16.5 billion.

“Institutional demand for ETH exposure is certainly growing. The open interest is growing rapidly for CME's ETH futures and is now above $500 million,” noted Arcane Research.

Amidst this, ETH balance on exchanges continues to drop, with a total of 4.54 million ETH withdrawn from centralized exchanges in 2021 so far. While 4.71% of the circulating supply is getting out of exchanges, another 8.74% of the circulating supply of Ethereum is currently locked in DeFi Protocols, and more than 4% is locked in ETH 2.0 deposit contract.

Bitcoin, which achieved Ether’s current AUM level in December 2020, still accounts for the lion’s share of the inflows at $290 million last week.

Source: CoinShares Report

New investment product entrants Cardano (ADA) and Litecoin (LTC) got off to a good start with inflows of $6.6 million and $3.6 million, respectively. This brings total assets under management to $10.8 million for Cardano and $12.5 million for Litecoin. ADA 1.05% Cardano / USD ADAUSD $ 1.36
$0.011.05% Volume 1.53 b Change $0.01 Open $1.36 Circulating 33.54 b Market Cap 45.63 b 3 w Bitcoin Is Back Above $51k and Ether $4,100 as The Cryptocurrency Market Goes Green 4 w Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 1 mon Solana (SOL) Bucks the Trend, Along With Tron (TRX), by Recording Highest Inflows After Bitcoin (BTC): Report LTC 1.99% Litecoin / USD LTCUSD $ 140.10
$2.791.99% Volume 601.97 m Change $2.79 Open $140.10 Circulating 69.46 m Market Cap 9.73 b 4 w Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 1 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 1 mon Ledger Announces Integration with FTX and Coinbase, Launching Crypto Life Debit Card

Exchange trading volumes for Bitcoin (BTC) averaged $10.5 million last week, with Bitcoin investment products higher than recent weeks with total trading volumes of $6.1 billion.

Grayscale remains the world’s largest digital asset manager with $50.83 billion in AUM, followed by CoinShares, with just over $6 billion in assets.