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    Institutional managers hold a record $13.9B worth of Ethereum

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    Weekly inflows into Ethereum investment products continue to grow, according to the latest CoinShares report.

    Institutional investment managers bought $30.2 million worth of Ethereum (ETH) last week, bringing their total holdings to a record $13.9 billion, according to CoinShares.

    Inflows into Ethereum products appears to be ramping up as investors devote greater attention and resources to the smart-contract platform. Month-to-date inflows for ETH products totaled $170 million, bringing the yearly total to $824 million. Managers now hold a combined $13.9 billion worth of ETH.

    The weekly inflows report showed strong growth across most digital assets, with the exception of Bitcoin Cash (BCH), where inflows fell by $1.7 million. Weekly inflows across all assets reached $489 million, with Bitcoin (BTC) accounting for the largest amount at $441.7 million.

    Total assets under management devoted to crypto are now $64.7 billion, a gain of roughly $7 billion over the past six weeks.

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    “The high inflows conceal varied flows amongst providers, with many seeing outflows in Europe while their North American peers saw strong inflows,” CoinShares explained. In particular, weekly inflows flat-lined for Grayscale, declined by $46 million for CoinShares and spiked $554.1 million for 3iQ, which manages Canada’s first Bitcoin exchange-traded fund.

    Ethereum led crypto to new heights this week, with the market capitalization of all assets reaching $2.398 billion, according to Coingecko. That exceeds the previous April 16 peak of $2.343 billion.

    ETH price has charted remarkable growth over the past week, clocking in at a new record high above $3,500. The second-largest cryptocurrency seems to be holding up well amid the latest correction that saw Bitcoin fall 6% and the overall market shed about $150 billion from the recent high.

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