Institutional investors showing interest in Ethereum, like Bitcoin
In recent weeks, institutional investors showed a significant Inclination toward Ethereum (ETH), instead of Bitcoin, because of the surge in the number of products related to Ethereum.
Ethereum is the second ranked crypto asset in the world, just after Bitcoin, by market cap. The current trade price of the Ethereum (ETH) coin is $1,631 & this trade price is only net 20% high over the last 12 months of trade price.
Recently a total of 6 Ethereum futures products started to be officially traded, namely BitWise Ethereum Strategy ETF (AETH), Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP), ProShares Ether Strategy ETF (EETH), ProShares, Bitcoin & Ether Equal Weight Strategy ETF (BETE), Bitcoin & Ether Market Cap Weight Strategy ETF (BETH), VanEck Ethereum Strategy ETF (EFUT).
Following the rapid entry of Ethereum investment products, a nearly $13 million inflow of money in the Ethereum ecosystem took place this week, which is good data for Ethereum over the last 1.5 month’s of money inflow.
James Butterfill, the head of Research at CoinShares Co, shared his opinion on this data and said that it is still low compared to the $200 million of institutional investors’ capital inflow for Bitcoin (BTC) during the launch of the Bitcoin Futures ETF by ProShares in 2021.
According to Butterfill, it may be because of the extended bear phase cycle of this innovative sector.
As per data provided by Butterfill, Ethereum saw a money outflow of $101 million year to date and in the same frame Bitcoin saw an inflow of $219 million but interestingly in the last 30 days outflow & inflow of funds for Ethereum & Bitcoin was same which is showing that interest of institutional investors in Ethereum surged rapidly in the recent weeks.
After Ethereum, Solana (sol) grabbed the attention of institutional investors at a big level which is a big hint for the bullish future of Sol coin.
