CoinShares chief strategy officer Meltem Demirors revealed that institutional investors' interest in Ethereum (ETH) cryptocurrencies is at an all-time high, something has just been seen.
In an interview with Fox Business, Fox revealed that CoinShares now owns over $ 4 billion of assets under management (AUM), mainly in bitcoin and found that the weekly inflow funds allocated by investors are mostly for ETH.
"Last week, as much as 80% of inflows occurred or around $ 175 million was included in Ethereum investment products and this is an unprecedented phenomenon," he said.
The crypto sector realizes that Ethereum's price has set an all-time high (ATH) record several times since the beginning of the year with the latest reaching $ 1,871 on February 13.
Demirors explained that a large group of investors have started accumulating crypto assets other than bitcoin, especially those with long-term potential to reduce the risks associated with Satoshi Nakamoto's currency.
For example, Grayscale reportedly bought ETH worth $ 350 million over the past two weeks. They have filed with the Securities and Exchanges Commission (SEC): 87,749.87885686 ETH ($ 153,732,197) purchased between 8 - 11 February. In addition, it was purchased on February 1 - 5 for $ 200 million, bringing the total to $ 350 million.
Demirors also agreed that Tesla's recent move to invest $ 1.5 billion in bitcoin would attract more corporate attention to the asset.
