Crypto ETF investors want ‘Ethereum about Bitcoin’ in the midst of rising demand: Coinshares

Funds that offer exposure to Ethereum have grown faster than Bitcoin Tegers, underlines the new demand for the active, according to Coinshares Head of Research James Butterfill.

In the past 12 weeks, the assets of Ethereum-linked funds in the management of 19.5% have grown to $ 19.6 billion, he wrote in a report On Monday. The AUM of Bitcoin-linked funds has since increased by 9.8% to $ 176 billion in the same period, he added.

“People prefer Ethereum above Bitcoin,” said Butterfill Decrypt. “Although the number is lower [for Ethereum] Then Bitcoin, proportionate, it is much more important. “

Renewed interest in Ethereum is amid the assets Climb over $ 3,000 For the first time in five months. Although the price of the active is not yet to darken its highest point in the pandemic era of $ 4,900, the price of Ethereum has risen by 85% in the past three months.

At the same time, the price of Bitcoin has risen to new heights, making $ 122,800 on Monday before he withdrew, according to Crypto Data Provider Coentecko.

Bitcoin had a blockbuster debut last year on Wall Street through exchanged funds that now manage more than $ 148 billion in assets, according to Crypto Data Provider Coinglass. The introduction of Ethereum ETFs in the US was more damped, partly because the stories of Ethereum were set less, analysts public participation. Those funds have $ 12.7 billion in AUM.

As chairman of Ethereum Treasury company Bitmine, however, co-founder of Fundstrat Tom Lee is the new faces pitching Ethereum as an investment.

Last week, Ethereum-linked funds generated $ 990 million in inflow, while Bitcoin-linked funds yielded $ 2.7 billion. Butterfill described it as ‘record-breaking momentum’, which represents the second best week before crypto funds, in general, record.

Bitcoin and Ethereum were nevertheless relative from bijters.

Solana-Coupled funds generated $ 92 million in inflow last week and pushed year-to-date inflow to $ 206 million. The price has risen by 10% last week to 168%.

Although XRPThe price has risen by more than 31% in the past week to $ 3, which represented a fresh, seven -year -old high, investors, investors have taken $ 104 million from funds for the wrinkle -bound active. That year-to-date inflow fell to $ 231 million.

Butterfill emphasized the Wisdomtree Physical XRP exchange-related note, which had $ 115 million last week. Because the activity was limited to one fund, he suggested that it is not a trend or ‘something special ominous’.

Nevertheless, Crypto Asset Manager 3IQ Digital praised the approval of his XRP-linked ETF in Canada on Monday. The XRP ETF of the company, which debuted less than a month ago, has so far taken $ 50 million in assets, an “important milestone”, President and CEO Pascal St-Jean said On X.