The second-largest cryptocurrency in the world, Ethereum, has seen a major inflow from the financial market, with a total of $2.2 billion this year.
According to CoinShare’s published report on Dec. 02, Ethereum (ETH) has an outstanding record, along with Bitcoin as the most prominent crypto in the world, receiving a large amount of inflow this year.
Ethereum has gained market attention with funding of about $2.2 billion. This is a new record that exceeds the number of funds in 2021 by $2 billion. Bitcoin (BTC) inflow reached $34 billion, while the coin kept testing the target price of $100,000 in the past two weeks.
“Bitcoin saw outflows of US$457m, the first significant outflows since early September this year in what we believe is profit taking following bitcoin testing the very psychological level of US$100k,” says CoinShares on the report.
Multi-asset crypto and Solana (SOL) led the next inflow, which amounted to $441 million and $110 million, respectively. Although both cryptos have seen an outflow this week of $20 million, the month-to-date (MTD) flows have seen different results, with multi-crypto seeing an outflow of $25.3 million. In comparison, Solana records $40 million of inflow.
Ripple’s XRP also records massive inflows, with $95 million this week and $141 million year-to-date (YTD). This was because of the hype of the upcoming XRP’s ETF, which was proposed to the Securities and Exchange Commission (SEC). At the time of writing, XRP’s price also surged to 27.38% in a day of trading.
You might also like: CoinShares adds Metaplanet to its Blockchain Global Equity Index
iShares Ethereum-Bitcoin have led the inflows
Both iShares products of BlackRock become the top rank of the funding. iShares Bitcoin Trust ETF (IBIT) wrote down $405 million, while iShares Ethereum Trust ETF (ETHA) recorded $300 million of inflow this week.
Another triple-digit inflow has been recorded by Bitwise Ethereum Strategy ETF (AETH) and Fidelity Ethereum Fund (FETH), which has reached $134 million and $140 million this week.
The United States, Germany, and Hong Kong have written down the inflows for this week. Switzerland, Sweden, and Canada were seen as having “a minor outflow” with a total of $52 million.
Read more: CoinShares: Crypto investment products saw record $3.13b weekly inflow
