Ethereum saw the largest inflow of funds in the first week of February.

ETH brought in $ 195 million, while BTC brought in $ 42 million

Investors are increasingly confident in Ethereum’s fundamentals, according to CoinShares researchers.

According to data from CoinShares, Ethereum brought in $ 195 million in weekly inflows. The report found that investors are “unusually focused” on assets.

A new report from CoinShares , released on February 8, shows that recent investments have heavily favored Ethereum. The second-largest cryptocurrency on the market attracted $ 195 million in investment in the first week of February, which shocked other assets.

The total entry into the market stands at $ 2.6 billion, already more than a third of the total of $ 6.7 billion for 2020. The year 2021 has started on an extremely bullish note and so trends current continues, it could be the biggest year on record in the cryptocurrency market.

The largest flows come from Grayscale Investments , which is the best-known of institutional crypto providers

The company accounted for nearly $ 200 million in weekly admissions, or about 80% of all major vendors.

At $ 42 million, the weekly Bitcoin inflow is also at its lowest level since the first week of January. Polkadot followed Ethereum and Bitcoin, albeit far behind, with an influx of $ 4.4 million.

The large influx of capital into Ethereum could be the result of the flourishing decentralized finance (DeFi) market. However, CoinShares researchers note that investors prefer to keep a stranglehold on profits. Ethereum is the backbone of the DeFi market, which is proving just as promising, if not more, than in 2020.

Institutional investments have largely contributed to the growth of the market over the past six months. Several companies and hedge funds, including BlackRock, have opened up to Bitcoin as a legitimate investment vehicle. This, in turn, has driven the market forward, creating a domino effect that regularly attracts top individuals and businesses.

Among those examples is Tesla, which bought Bitcoin for $ 1.5 billion , according to an SEC filing. Its CEO Elon Musk, who is no stranger to the crypto headlines, has made his support for digital assets clear. Bitcoin even briefly crossed the $ 1 trillion market mark, hitting all-time highs above $ 47,000.

If more such news arrives, Bitcoin’s recent double-digit rise is likely to continue. BTC is the fundamental asset of the market, the profits of which have historically been injected into altcoins.

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