Ethereum Attracts Record $216 Million Weekly Crypto Inflows

Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term, the world’s second-largest cryptocurrency, attracted a record $216 million in ETH-related investment products last week, beating the previous week's record of $195 million. The total cryptocurrency assets under management stood at around $47 billion last week.

According to the latest weekly crypto inflows report published by CoinShares, last week saw a total of $602 million investment in digital assets, the third-largest inflows on record. Ethereum remained the standout performer as the world’s second-largest cryptocurrency, accounting for nearly 36% of the total weekly inflows.

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, the most valuable cryptocurrency in the world saw weekly inflows of $367 million, a significant jump from the previous figure as institutional demand for BTC increased after Tesla announced a $1.5 billion Bitcoin investment.

“Ethereum was the standout performer with a record $216 million of investment product inflows, beating the previous week's record of $195 million. Ethereum inflows represented 36% of the digital asset inflows last week, far greater than the share of assets under management at 16%. This highlights how investors are, at least on a relative basis, favoring Ethereum. We have seen minor inflows (2% of total) into multi-digital assets funds and Polkadot in recent weeks, while Bitcoin Cash has seen little interest from investors,” the report states.

Institutional Accumulation

Bitcoin crossed $50,000 today after the institutional demand for BTC increased substantially in the last few weeks. The cryptocurrency market crossed the total market capitalization of $1.5 trillion yesterday. Grayscale, the world’s largest crypto asset manager now has $38 billion worth of digital assets under management. Bitcoin remained the top holding asset of Grayscale as the company has more than 653,000 BTC under management with a total value of $31.8 billion. Grayscale accelerated its accumulation of Ethereum in the last few weeks. The asset manager purchased 194,522 ETH in the last 4 weeks. Grayscale now has more than 3.13 million Ethereum under management with a total value of more than $5.5 billion. As of writing, ETH is trading above $1,800 with a total market cap of $207 billion.