A recent report from market data aggregator CoinShares has revealed recent surging cryptocurrency inflows amid record gold outflows.
The combined crypto assets fund sector saw record inflows of $429 Mln over the past 2-weeks, with Ethereum funds attracting significant investment following the completion of Eth2’s Phase 0 with the launch of the Beacon Chain on 1st Dec.
Despite representing 14% of the capital locked in cryptocurrency investment products, 20% or $87 Mln of the past week’s capital flows were invested into funds offering exposure to Ethereum [ETH].
The report estimates that an additional of $14.9 Bln is presently being managed across cryptocurrency investment products, of which Grayscale Investments represents over 83%.
CoinShares estimates that Grayscale received over $336 Mln in investments within the past week. ETC Issuance ranked 2nd-among cryptocurrency providers with inflows of $19 Mln, followed by 21Shares with $13 Mln.
Recent price action has seen the share of the sector’s combined assets under management represented by monthly inflows spike to its 2nd-highest level ever, beaten out only by the surging inflows similar within the run-up to Bitcoin’s 2020 halving. The past month’s inflows represent roughly 0.4% of the sector’s combined AUM.
While over $4.8 Bln has flowed into crypto funds this year, the figure is adequate to just 10.5% of the $45.7 Bln that has moved into gold investment products this year.