Institutional investors continue to withdraw from BTC in favor of ETH. As a result, Ethereum investment products now account for more than a quarter of the scale of institutional cryptocurrency asset management. Institutional investors increase their ETH holdings, and the scale of Ethereum asset management sets a new record.
Institutional demand for Ethereum continues to surge, and Ethereum products now account for more than a quarter of the asset under management (AUM) of cryptocurrency investment products. According to CoinShares' June 1st Digital Asset Fund Flow Weekly Report, institutional funds have flowed substantially $74 million in the past week as investors tried to profit from the recent plunge. In the recent plunge, the value of many cryptocurrency assets lost more than 50%. More than 63% of institutional funds flowed into Ethereum products, totaling US$46.8 million. Ethereum products now account for 27% of the total assets of cryptocurrency investment products, which is the highest share to date. The large inflow of funds also included investments in multiple crypto assets (US$11.1 million), as well as funds for Cardano (US$5.2 million), XRP (US$4.5 million), and Polkadot (US$3.8 million). The outflow of bitcoin products has slowed down, with approximately $4 million in funds exiting the market, which is lower than the outflow of $110.9 million last week. In the past three weeks, $246 million has been withdrawn from Bitcoin investment products. Although the 30-day inflow of Bitcoin is 47.9 million U.S. dollars, which is currently about one-third of Ethereum's 147.7 million U.S. dollars, Bitcoin still dominates with nearly 4.4 billion U.S. dollars in inflows. In comparison, Ethereum is 973 million U.S. dollars... However, the recent momentum of Ethereum has made people once again speculate whether Ethereum is preparing to surpass Bitcoin. Ethereum currently surpasses Bitcoin in terms of transaction volume, transaction volume and fees, and handling fees. According to CoinGecko's data, Ethereum is currently the second-largest cryptocurrency asset by trading volume, with a daily trading volume of 38.8 billion U.S. dollars, second only to Tether's 103 billion U.S. dollars. In the past 24 hours, approximately $32.9 worth of Bitcoin has changed hands.
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