Institutional investors last to exit Bitcoin in service of Ether, with ETH investment products present day on behalf of more than one-quarter of institutional crypto AUM.
Institutional demand for ETH lasts to surge, with Ether products nowadays instead of more than one-quarter of the assets AUM of crypto investment products.
Rendering to CoinShares’ June 1 Digital Asset Fund Flows Weekly report, the previous week saying important institutional inflows of $74M as investors required to exploit on the fallout from the new crash in which numerous crypto assets went more than 50% of their worth.
More than 63% of institutional inflows were vaccinated into ETH products or $46.8M of the total. ETH products now signify 27% of the joint AUM for crypto investment products — the maximum share hitherto.
Important inflows were also made to product contribution contact to multiple crypto assets $11.1 million as well as funds directing Cardano $5.2 million, XRP $4.5 million, & Polkadot $3.8 million.
Outflows from BTC products have decelerated, with roughly $4M in capital departing the markets — down from the previous week’s $110.9M in outflows. Over the historical 3 weeks, $246M has departed Bitcoin investment products.
Notwithstanding BTC’s 30-day inflows of $47.9M now equating to roughly one-third of Ether’s $147.7M, Bitcoin quite dominates year-to-date inflows with closely $4.4B compared to Ether’s $973M.
Though, ETH’s recent momentum has given an increase to renewed conjecture as to whether ETH is gearing up to flip BTC, with ETH currently thrashing out crypto’s honeybadger by transaction count, volume, & fees, & trade volume.
Rendering to CoinGecko, ETH is now the 2nd most traded crypto asset with $38.8B in everyday volume, position behind only Tether’s $103B. Roughly $32.9 value of Bitcoin altered hands over the historical 24 hours.