Ethereum investment product sees massive inflows as institutional investors are back again in re-accumulating the token. Digital asset investment products registered a total of $75 million worth of cumulative inflows last week. Fresh Appetite for Crypto Products Institutional crypto fund manager CoinShares in its weekly report noted that Ethereum (ETH) has finally broken its 9-week spell of capital investment outflows with the latest inflows totaling $20.9 million for the week ending Feb. 11. In comparison, Bitcoin (BTC) investment products saw $25.1 million worth of inflows, a slower growth compared with its $71 million of inflows the week before. Multi-asset funds also saw an inflow of $18.7 million for the last week with recently created investment products such as Terra (LUNA), Tezos (XTZ), and Cosmos (ATOM) all getting investment inflows. The report also highlighted regional variances with $5.5 million of outflows in the United States while $80.7 million of inflows recorded in European investment products. The total inflow for the past four weeks has been $209 million. However, the recent inflows still remain relatively lower in comparison to the inflows recorded in the fourth quarter of 2021. Institutional Demand for Crypto Assets Institutional demand for crypto assets has grown substantially over the past year. Grayscale, which is the largest crypto asset manager, currently has $37.6 billion in assets under management. The asset manager is even looking to convert its flagship GBTC Bitcoin product into an exchange-traded fund (ETF). However, the US Securities and Exchange Commission has once again delayed its decision on Grayscaleās Bitcoin ETF application this month.
The post Ethereum Investment Product Sees Massive Inflows this Week appeared first on Cryptoknowmics-Crypto News and Media Platform.
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