The institutional giant has purchased nearly 760,000 Ethereum coins

New data from crypto-focused investment company Grayscale shows that interest in Ethereum among high net worth investors continues to grow.

At the time of its publication, the Greyscale territorial Trust Ethereum has grown to $ 234 million in assets under management. The trust is backed by Ethereum, which allows investors to gain exposure to the second largest cryptocurrency without actually buying the asset.

With increasing interest in Ethereum Trust, the company has purchased 756,539 Ethers (ETH) worth $ 145 million since the beginning of 2020 on behalf of its customers.

Bitcoin Trust Grayscale remains the most popular investment product offered by Grayscale, with assets of $ 2.3 billion under management.

But the company’s first-quarter 2020 report shows that Ethereum’s inflows outperform those of Bitcoin.

Ethereum’s transaction volume is steadily increasing this year, according to BitInfoCharts. The figures suggest that the leading smart contract ecosystem, which allows companies to easily rotate new Ethereum-based coins, is thriving.

Ethereum also appears as the backbone of the decentralized finance movement (DeFi), an effort to use blockchain to remove intermediaries from traditional financial services.

The capital of the entire decentralized finance (DeFi) market crossed $ 1 billion earlier this year, but has since dropped to $ 780.4 million, according to DeFi Pulse.