Meltem Demirors, the chief strategy officer of investment firm CoinShares, says institutional investors are starting to stampede into Ethereum (ETH) as FOMO surrounding the second-largest crypto asset erupts.
In a new Fox Business interview, Demirors reports that CoinShares, which tracks the total institutional inflows into ETH across a number of crypto companies and investment vehicles, is witnessing skyrocketing institutional interest in Ethereum as the leading smart contract platform consolidates below $2,000.
“When it comes to other crypto assets, at CoinShares we have $4 billion in assets under management primarily in Bitcoin, but last week, we tracked weekly fund flows of investors allocating to publicly-listed investment vehicles.
Last week, 80% of inflows, or about $175 million, went into Ethereum investment products and we have never seen institutional interest like that before.”
Demirors adds that corporations are allocating to crypto assets other than Bitcoin in an effort to reduce the risks that come with the flagship cryptocurrency.
“The landscape is
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