According to CoinShares, corporate investment managers bought Ethereum (ETH) for $ 30.2 million last week, bringing their total stake to $ 13.9 billion.
Ethereum’s product flow appears to be increasing as investors place more focus and resources on the smart contract platform. The monthly impact on ETH products is $ 170 million, with a total of $ 824 million per year. The leaders raised $ 13.9 billion worth of ETH.
Weekly inflows reported strong gains for most digital assets, with the exception of Bitcoin Cash (BCH), where inflows were down $ 1.7 million. Weekly flows across all assets reached $ 489 million, with bitcoin (BTC) accounting for the largest amount at $ 441.7 million.
Total assets under management dedicated to cryptocurrencies are currently $ 64.7 billion, nearly $ 7 billion more than in the past six weeks.
“High flow masks diversified flows between suppliers, with many seeing an outflow in Europe, while their North American counterparts see strong inflows,” CoinShares said in a statement. Specifically, the weekly grayscale streak was down $ 46 million for CoinShares and up $ 554.1 million for 3iQ, which operates Canada’s first ETF.
Ethereum has taken the cryptocurrency to a new level this week, according to Coingecko, with the market value of all assets reaching $ 2.398 billion. This exceeds the past April 16 by $ 2.343 billion.
ETH has seen significant gains over the past week with a new record of over $ 3,500. The second largest cryptocurrency appears to have done well in the middle of a recent correction, which saw bitcoin plummet 6% and the overall market plummeted nearly $ 150 billion from its previous high.