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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 -2.58%

Bitcoin / USD
BTCUSD

$ 55,858.56

-$1,441.15
-2.58%

Volume 72.36 b

Change -$1,441.15

Open $55,858.56

Circulating 18.71 m

Market Cap 1.04 t

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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Amidst this, ETH balance on exchanges continues to drop, with a total of 4.54 million ETH withdrawn from centralized exchanges in 2021 so far.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.

Weekly Crypto Asset Flows by Asset (US$m)

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 0.05%

Cardano / USD
ADAUSD

$ 1.74

$0.00
0.05%

Volume 6.62 b

Change $0.00

Open $1.74

Circulating 31.95 b

Market Cap 55.55 b

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LTC -6.55%

Litecoin / USD
LTCUSD

$ 364.42

-$23.87
-6.55%

Volume 10.82 b

Change -$23.87

Open $364.42

Circulating 66.75 m

Market Cap 24.33 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.

Ethereum/USD ETHUSD

3,989.8097
-$103.34
-2.59%

Volume 62.41 b
Change -$103.34

Open$3,989.8097
Circulating 115.83 m
Market Cap 462.14 b

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

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