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Ethereum Investment Product’s Market Share Increases to Reach a Record Highs

Ethereum Investment Product’s Market Share Increases to Reach a Record Highs

Ethereum Investment Product’s Market Share Increases to Reach a Record Highs

While Ethereum saw $47 million inflows last week, Bitcoin had yet another week, a hattrick, of outflows. Ether products now have a total of $11.83 billion in AUM compared to Bitcoin’s $30 bln.

Bitcoin struck a hattrick of outflows as the week ending May 31st also recorded another set of outflows focussed on Bitcoin investment products.

However, outflows were minor at just $4 million last week. Over the last three weeks, the total outflows come at $246 million, representing only 0.80% of assets under management (AUM).

Bitcoin (BTC) investment products’ inflows remain positive for this year at $4.4 billion. BTC 2.78% Bitcoin / USD BTCUSD $ 37,864.39
$1,052.632.78%
Volume 32.62 b Change $1,052.63 Open $37,864.39 Circulating 18.72 m Market Cap 709 b
45 min Ethereum Investment Product’s Market Share Increases to Reach a Record Highs 1 h Fidelity Director Remains A Bitcoin Bull, But Says Short-term Traders Have Not Capitulated Enough 1 h DOGE Gets Listed on Coinbase Pro; Dogecoin Developer Activity on the Network Sees an Uptick

Investors actually took the opportunity to buy the dips with net inflows into investment products of $74 million last week, following the record outflow for the two consecutive weeks that totaled $151 million, representing 0.34% of assets under management.

And Ethereum received the most of it with its inflows totaling $47 million last week.

This had Ethereum investment product’s market share increasing to reach a record high of 27%, as per CoinShares report.

Altcoins remain particularly popular, especially proof-of-stake coins. Cardano (ADA), Polkadot (DOT), and Ripple (XRP) recorded inflows of $5.2 million, $3.8 million, and $4.5 million respectively. ADA 3.15% Cardano / USD ADAUSD $ 1.78
$0.063.15%
Volume 3.73 b Change $0.06 Open $1.78 Circulating 31.95 b Market Cap 56.84 b
45 min Ethereum Investment Product’s Market Share Increases to Reach a Record Highs 1 h DOGE Gets Listed on Coinbase Pro; Dogecoin Developer Activity on the Network Sees an Uptick 6 d In the Last Month, People Are More Interested In Trading Ethereum Than Bitcoin
DOT 11.39% Polkadot / USD DOTUSD $ 25.21
$2.8711.39%
Volume 2.55 b Change $2.87 Open $25.21 Circulating 944.11 m Market Cap 23.81 b
45 min Ethereum Investment Product’s Market Share Increases to Reach a Record Highs 1 h DOGE Gets Listed on Coinbase Pro; Dogecoin Developer Activity on the Network Sees an Uptick 6 d Ethereum Layer 2 Solution Polygon Launches SDK to Transform Ethereum Into An Internet of Blockchains
XRP -0.39% XRP / USD XRPUSD $ 1.02
$0.00-0.39%
Volume 3.83 b Change $0.00 Open $1.02 Circulating 46.15 b Market Cap 47.23 b
45 min Ethereum Investment Product’s Market Share Increases to Reach a Record Highs 5 d Ripple CEO Says Firm Could Go Public Once SEC Case Is Resolved 6 d In the Last Month, People Are More Interested In Trading Ethereum Than Bitcoin

When it comes to digital asset managers, the largest Grayscale Investments and Bitwise didn’t have any inflows last week, but while Grayscale managed to see some, $0.5 million, in the entire last month, Bitwise didn’t see any.

Last week, 21Shares had the largest inflows of $34.8 million, followed by $30.6 million by Purpose, which launched the first Bitcoin ETF in North America and its Ether ETF trading at the Toronto Stock Exchange.

Published at Wed, 02 Jun 2021 14:06:27 +0000

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