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Ethereum Institutional Demand Beats Solana and XRP — Fund Tracker Reveals
A recent report by CoinShares has revealed that institutional demand for Ethereum (ETH) investment products has outpaced those of Solana (SOL) and XRP, marking a significant milestone in the cryptocurrency market.
According to the data, Ethereum investment products saw a substantial $583.3 million inflow last week alone, pushing its cumulative inflows above $2 billion. This staggering sum now accounts for 14% of the asset’s total assets under management (AUM), which has reached a whopping $14.9 billion as of June 13th.
In stark contrast, Solana and XRP have failed to garner similar levels of institutional interest. Solana’s AUM stands at a paltry $1.39 billion, while XRP’s sits at $1.23 billion. This disparity highlights Ethereum’s unwavering appeal to investors.
Notably, this surge in demand is not limited to a single day or week but has been building momentum over the past few months. The data further underscores Ethereum’s rising popularity as institutional investors increasingly turn their attention towards the asset.
Another telling sign of Ethereum’s growing influence is its dominance in US markets. A significant portion of these inflows originated from American-based investors, who led the world with $1.92 billion in digital asset investments last week. This trend is largely attributed to increasing regulatory clarity in North America, which has emboldened major players like iShares (BlackRock) and Fidelity to drive momentum through their ETF offerings.
Germany attracted a modest $39.2 million in inflows, while Switzerland saw about $20.7 million. Hong Kong, on the other hand, faced net outflows of $56.8 million, highlighting the stark disparity between regional approaches to Ethereum investment.
The implications of this data are far-reaching and have significant consequences for the cryptocurrency market as a whole.
Source: coinchapter.com
