Digital asset manager CoinShares says institutional cryptocurrency investors are making significant investments in leading altcoin Ethereum (ETH).
CoinShares said there was $1.35 billion in inflows into cryptocurrency investment products last week, according to its latest Digital Asset Fund Flows Report.
“Digital asset investment products saw additional buying last week with $1.35 billion in inflows, taking inflows to $3.2 billion over the past three weeks. Exchange-traded products (ETPs) volumes also increased significantly, reaching $12.9 billion, up 45% week-over-week, but still accounted for just 22% of overall crypto market volumes.”
By region, $1.3 million and $66 million flowed into the United States and Switzerland, respectively.
Brazil and Hong Kong saw smaller outflows totaling less than $7.5 million.
Bitcoin (BTC) took the lion’s share of inflows, as usual, with $1.27 billion.
However, according to CoinShares, the biggest topic of inflow last week was Ethereum.
“Ethereum’s outlook appears to have turned around, with the cryptocurrency seeing an additional $45 million in inflows last week, pushing it past Solana as the top altcoin by inflows year-to-date (YTD) at $103 million.”
Solana (SOL) saw inflows of $9.6 million. The multi-asset crypto investment vehicle saw inflows of $16.7 million. Litecoin (LTC), Chainlink (LINK), XRP, and Cardano (ADA) also brought in inflows of $2.2 million, $700,000, $500,000, and $400,000, respectively.
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