In a recent Digital Asset Fund report, Ethereum exchange traded funds (ETH ETF) has been shown to outpace Bitcoin ETF in the institutional investment race.
The report reveals that ETH Spot ETFs saw approximately US$105 Million in inflows last week, amidst the overall negative market momentum. However, total flows since inception remain negative, with about US$405 Million in outflows.
Bitcoin Spot ETF, on the other hand, witnessed significant outflows last week, with around US$170 million in net outflows, following nearly $80 Million in outflows last week.
Institutional investor Grayscale holds about 360,000 ETH in its newly launched Grayscale Ethereum Mini Trust (ETH), which was seeded with approximately USD1 billion from ETHE. In total, Grayscale now holds about 2.25 million ETH, indicating a 25 per cent reduction in Ethereum holdings.
Overall, digital asset investment products witnessed inflows around US$176 Million as investors grabbed the opportunity to buy more amidst the previous week’s crypto slug fuelled by geopolitical tensions, and stock market dips.
Total Assets under Management (AuM) of investment products has gone down to US$75 billion, wiping over US$20 billion off in the correction. However, it has since recovered to US$85 billion.
The report also revealed country-based inflows data. After last week’s market debacle, a somewhat positive sentiment towards the asset class was seen post the recent price correction. The US witnessed an inflow of a whopping US$89 Million , Switzerland saw US$20 Million . Brazil saw an inflow of US$19.9 Million and Canada saw US$12.6 Million respectively. But the net outflows witnessed in the US also remained the highest with around US$306 Million.