Institutional demand for Ethereum continues to be on the rise as Ether products now represent over one-quarter of the assets under management (AUM) of crypto investment products.
The previous week registered an important institutional inflow of $74 million after investors decided to take advantage of the recent crash in which the majority of crypto assets lost over half of their value.
$46.8 million of those, or 63%, were used for Ether products. Ether now registers its highest share yet of the combined AUM for crypto investment products as it sits at 27%.
Other important inflows were registered towards Cardano ($5.2 million), XRP ($4.5 million), or Polkadot ($3.8 million).
Meanwhile, the outflow from BTC products has decelerated with about $4 million in capital exiting the markets; the previous week registered $110.9 million in outflows. More than $246 million have exited BTC investment products across the previous three weeks.
Bitcoin has a 30-day inflow of $47.9 million, which represents about one-third of the $147.7 registered by Ether. Nevertheless, Bitcoin continues to rule in the year-to-date inflows with $4.4 billion while Ether has only $973 million.
This has many speculate over the idea that Ether could flip Bitcoin and become the top crypto asset by transaction count, volume, and fees.