Ether Makes Up 27% Of Crypto Fund Assets
It's a record high for ether's market share.
Takeaways
- Digital asset price weakness prompted investors to add positions with net inflows into investment products of US$74m last week.
- Ethereum achieved its highest market share, peaking at nearly 27% of all investment products last week.
- Outflows remain focussed on Bitcoin investment products, which saw minor outflows of US$4m last week.
- Data suggests proof-of-stake coins remain popular with inflows into Cardano, Polkadot and Ripple of US$5.2m, US$3.8m and US$4.5m respectively.
Digital asset price weakness prompted investors to add positions with net inflows into investment products of US$74m last week. This follows record outflows for the previous two weeks totalling US$151m, representing 0.34% of assets under management.
Outflows remain focussed on Bitcoin investment products, which saw minor outflows of US$4m last week. This brings the total outflow over the last three weeks to US$246m, representing 0.8% of assets under management. Bitcoin investment product inflows remain positive for 2021, totalling US$4.4bn.
Ethereum resumed inflows totalling US$47m last week. The price correction had a minor impact on investment flows the previous week, but this looks to have recovered, with all product providers seeing inflows. Ethereum achieved its highest market share, peaking at nearly 27% of all investment products last week.
Investment product flows indicate that altcoins remain popular, with inflows into all altcoin investment products. The data suggests proof-of-stake coins remain the most popular with inflows into Cardano, Polkadot and Ripple of US$5.2m, US$3.8m and US$4.5m respectively.
Contact James Butterfill at [email protected]
