Institutional investment in cryptocurrency products last week totaled $ 245 million, according to a new report from CoinShares. Of these, an unusually large share of 80% or $ 195 million went to Ethereum.
“We believe that investors are looking for diversification and are becoming more inclined towards the fundamental characteristics of Ethereum,” the authors write.
At the same time, investments in bitcoin turned out to be the most modest since reaching the absolute maximum in terms of investment in early January and amounted to $ 42 million. CoinShares notes that they see no signs of massive profit taking, and investors still prefer to buy and hold.
“Trading volumes in investment products remain high with an average of $ 670 million per day over the past week, which corresponds to 5.4% of total bitcoin trading volume. This is substantially less than the $ 1.9 billion per day recorded during the second week of 2021, ”adds CoinShares.
Grayscale holds a leading position in the space of institutional investment in cryptocurrencies with more than $ 33 billion in assets under management, of which $ 27 billion is held in a Bitcoin trust and $ 5 billion in an Ethereum trust.
The ETH rate today once again renewed all-time highs, exceeding the $ 1,800 mark. On Monday, trading in Ethereum futures started on the Chicago Mercantile Exchange.
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