ETH represented 80% of last week’s institutional crypto inflows

Crypto asset manager CoinShares has reported that investment inflows into institutional cryptocurrency funds surged last week, and the majority of it was Ethereum. The report states that of the $245 million crypto inflow last week, 80% of it or $195 million was invested into Ether products ahead of the launch of the Chicago Mercantile Exchange Ethereum futures contracts on Feb. 8. Comparatively, Bitcoin had $41.9 million of the weekly flows, with a year-to-date total of $2.02 billion. The report suggested that investor diversification was starting to occur, adding that there was little evidence of taking profits with investors preferring to buy and hold.

The report stated that investment product trading volumes remain high, averaging 0 million per day last week — representing 5.4% of total Bitcoin trading volumes. Grayscale remains the largest institutional crypto asset fund with a record .4 billion in assets under management (AUM) as of Feb. 8. Grayscale’s Ethereum Trust has been growing in terms of the total share of the AUM figure and has now reached over billion which equates to over 15%. The Bitcoin Trust still contains the lion’s share of all investments, however, with 82% of the total.

CoinShares reports that 21Shares is the second-largest institutional fund by weekly inflows with almost million, followed by WisdomTree with .5 million. Many pundits expected the launch of CME’s Ether futures would be followed by a sharp crash to repeat the collapse in prices that followed the launch of Bitcoin futures in December 2017. However, Ethereum rallied after contracts launched, posting a new all-time high of

,780 on Feb. 9. ETH last changed hands for ,750 at the time of writing.

ETH represented 80% of last week’s institutional crypto inflows, Cointelegraph, Feb 9