A recent report shared by CoinShares demonstrates that Ethereum initiated almost 80% of the total crypto investment inflow last week. The data undoubtedly points at the rising supremacy of ETH in the crypto market.
The report further explains that the investment inflow of cryptocurrency surged significantly last week. And out of the $245 million inflow, $195 million was reported to be traded on Ether related products.
Ethereum Investment Increases After CME Contract Launch
On 8th February, CME or the Chicago Mercantile Exchange Ethereum contracts were launched. ETH witnessed a great increase in its trade price after the CME futures contracts took place. The CME effect pushed the ETH to its new all-time high price also. Meanwhile, bitcoin, the largest cryptocurrency, marked the inflow of $41.9 million this week.
According to cryptocurrency analysts, investors have divided into two groups. Some of the traders are grabbing their profit while BTC volatility still prevails. On the other hand, some investors are more interested to buy and hold the stocks as it is showing bullish momentum.
CoinShares report has also shown that investors are getting more attracted to Ethereum as it is presenting a better prospect for its cryptocurrency as well as blockchain-based protocols. The report depicts that recently BTC has marked the lowest inflow of $42 million since it surged to its all-time high price in January.
The total digital currency investment inflow for 2021 is now $2.6 billion which is almost 39% of the capital investment in cryptocurrency funds in 2020. The raising inflow indicates that investors have been more interested in crypto assets this year.
Grayscale leads as the biggest crypto asset fund with a $33.4 billion AUM or assets under management. Bitcoin Trust has 82% of the total AUM and Ethereum Trust reached a total share of $5 billion marking 15 % of it.
While many analysts assumed ETH to suffer a crash after the accelerating growth by CME futures, Ethereum price action remains steady at the $1,750 level.
