Crypto asset manager CoinShares has reported that the total weekly institutional crypto inflows have surged last week. The total crypto inflows accounted for $245 million with ETH alone representing 80% or $195 million from the total weekly crypto inflows. This comes ahead of the launch of the Chicago Mercantile Exchange Ethereum futures contracts on Feb. 8. Institutional Demand for Ethereum Continues Surging Institutional demand for Ethereum has been surging since the beginning of 2021. For instance, the world’s largest digital assets management firm, Grayscale, reopened its Ethereum Trust in late January. In the past week alone, the firm accumulated around 108,546 ETH. Following the launch of the CME’s ETH Futures on Feb. 8, the price of ETH registered its all-time high of $1,770 . The price of Ether has been up by 150% since the beginning of the year. Comparatively, Bitcoin had over $42 million of the weekly flows, with a year-to-date total of $2 billion. This represented the lowest weekly inflows since 8 January 2021. The official report highlighted: “Fund flows this week unusually focused on Ethereum with inflows into investment products totaling $245 million. $195 million of these inflows were Ethereum representing 80% of the total. We believe investors are looking to diversify and are growing increasingly comfortable with Ethereum fundamentals. Bitcoin had its lowest inflows (US$42m) since the all-time highs were achieved in the week ending 8th January 2021.” Bitcoin Still Remains Preferred Choice for Institutional Investors Grayscale has over $3 million ETH with a total valuation over $5 billion, representing over 15%. Despite Bitcoin’s dip in weekly crypto inflows the leading cryptocurrency remains a preferred choice of institutional investors in 2021. For instance, Grayscale has around 649,500 BTC under management with a total value over $28 billion or 82% of the total. Grayscale remains the largest institutional crypto asset fund with a record $33 billion in assets under management as of Feb. 8. Meanwhile, 21Shares is the second-largest institutional fund by weekly inflows with almost $21 million, followed by WisdomTree with $11.5 million.
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