Institutional investors load up ETH, with its share of AUM hitting a new record
Institutional investors continue to exit BTC in favor of ETH, with Ether investment products now representing more than one-quarter of institutional crypto AUM
Institutional demand for Ethereum continues to surge, with Ether products now representing more than one quarter of the assets under management (AUM) of crypto investment products
According to CoinShares’ June 1 Digital Asset Fund Flows Weekly report, the past week saw significant institutional inflows of $74 million as investors sought to capitalize on the fallout from the recent crash in which many crypto assets lost more than 50% of their value
More than 63% of institutional inflows were injected into Ether products, or $46.8 million of the total. Ether products now represent
27% of the combined AUM for crypto investment products the highest share yet.
Outflows from Bitcoin products have slowed, with roughly $4 million in capital exiting the markets down from last week’s $110.9 million in outflows. Over the past three weeks, $246 million has exited BTC investment products
Despite Bitcoin’s 30-day inflows of $47.9 currently equating to roughly one-third of Ether’s $147.7 million, Bitcoin still dominates year-to-date inflows with nearly $4.4 billion compared to Ether’s $973 million.
However, Ether’s recent momentum has given rise to renewed speculation as to whether Ethereum is gearing up to flip Bitcoin, with Ethereum currently beating out crypto’s honeybadger by transaction count, volume, and fees, and trade volume
According to CoinGecko, Ether is currently the second-most traded crypto asset with $38.8 billion in daily volume, ranking behind only Tether’s $103 billion. Roughly $32.9 worth of BTC changed hands over the past 24 hours