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

Cardano (ADA) and Litecoin (LTC) are also seeing a great start with inflows of $6.6 million and $3.6 million, respectively. Bitcoin still accounts for the lion’s share of the inflows at $290 million last week.

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 0.17% Bitcoin / USD BTCUSD $ 26,538.65
Volume 12.93 b Change $45.12 Open $26,538.65 Circulating 19.4 m Market Cap 514.76 b
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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Amidst this, ETH balance on exchanges continues to drop, with a total of 4.54 million ETH withdrawn from centralized exchanges in 2021 so far.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.

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 -0.66% Cardano / USD ADAUSD $ 0.32
Volume 275.61 m Change $0.00 Open $0.32 Circulating 34.9 b Market Cap 11.26 b
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LTC -0.24% Litecoin / USD LTCUSD $ 88.49
Volume 374.44 m Change -$0.21 Open $88.49 Circulating 73.1 m Market Cap 6.47 b
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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.

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