Institutional investment managers bought $30.2 million worth of Ethereum (ETH) last week, bringing their total holdings to a record $13.9 billion, according to CoinShares.
Inflows into Ethereum products appears to be ramping up as investors devote greater attention and resources to the smart-contract platform. Month-to-date inflows for ETH products totaled $170 million, bringing the yearly total to $824 million. Managers now hold a combined $13.9 billion worth of ETH.
The weekly inflows report showed strong growth across most digital assets, with the exception of Bitcoin Cash (BCH), where inflows fell by $1.7 million. Weekly inflows across all assets reached $489 million, with Bitcoin (BTC) accounting for the largest amount at $441.7 million.
Total assets under management devoted to crypto are now $64.7 billion, a gain of roughly $7 billion over the past 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 explained. In particular,