Ethereum hits the spotlight all over again. It’s been reported that Meltem Demirors, the chief strategy officer of investment firm CoinShares, recently stated that institutional investors are starting to stampede into Ethereum (ETH) as FOMO surrounding the coin has erupted.
In a new Fox Business interview, Demirors said 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 – it’s important to note that the coin has been consolidating just below $2,000.
At the moment of writng this article, ETH is trading in the green and the coin is priced $1,802.48.
“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,” the CSO said.
She continued and explained that “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 added that corporations are allocating to crypto assets other than Bitcoin in an effort to reduce the risks that come with BTC.
“The landscape is changing and we see firms, corporations allocating to Bitcoin but investors are also looking at other digital assets that could have long-term potential to help diversify those balance sheets.”
Make sure to check out the video above in order to learn more details.
Ethereum new prediction
There are all kinds of predictions about the price of Bitcoin and Ethereum these days and they are all pretty optimistic. Check out the latest one coming from Fundstrat and reported by the online publication the Daily Hold for the first time.
It’s been just revealed that Fundstrat is more than doubling the 2021 Bitcoin price prediction and they also said that ETH is set to outperform BTC.