Institutional investment managers bought Ethereum (ETH) for $ 30.2 million last week, according to CoinShares.
The amount transferred to Ethereum products seems to increase with the interest and resources invested in the smart contract platform. The amount transferred to ETH products this month exceeded $ 170 million, and the amount transferred since the beginning of the year exceeded $ 824 million. Investment managers hold a total of $ 13.9 billion worth of ETH.
The weekly fund flow report shows that large amounts of funds have been transferred to most digital assets. Investments in Bitcoin Cash (BCH) alone decreased by $ 1.7 million. A total of $ 489 million was transferred to all digital assets over the past week. Of this, 441.7 million dollars were invested in Bitcoin (BTC).
The value of total managed assets allocated to cryptos has increased by nearly $ 7 billion in the past six weeks, approaching $ 64.7 billion.
The total value of the cryptocurrency market, led by Ethereum with its strong rally this week, reached an all-time high of $ 2.37 trillion according to Coingecko data. The previous peak was seen on April 16, with $ 2.34 trillion.
ETH has spent the past seven days breaking record after record, yesterday surpassing $ 3,500. The crypto currency is trading at $ 3,372 as of the time of translation release.