Digital assets manager CoinShares says institutional investors poured a record $3.2 billion into crypto investment vehicles last week.
In its latest Digital Asset Fund Flows report, CoinShares says that last week, institutional crypto investment products saw net inflows that brought yearly flows to $44.5 billion, a new record.
“Digital asset investment products saw a continuation of inflows last week totaling US$3.2bn, the 10th consecutive week, with inflows this year so far now totaling an astonishing US$44.5bn, more than quadruple that of any other year.
Trading volumes in exchange-traded products (ETPs) have averaged US$21bn a week, comprising 30% of the bitcoin traded on trusted exchanges. Bitcoin volumes on trusted exchanges (all investment types) is highly liquid, having averaged US$8.3bn a day this year, double that of the Financial Times Stock Exchange (FTSE) 100.”
According to CoinShares, all regions internationally saw inflows to crypto. The United States, Switzerland, Germany and Brazil led the charge with inflows of $3.1 billion, $36 million, $33 million and $25 million, respectively.
Bitcoin (BTC) products reached yearly inflows of $38 billion after last week’s additional inflows of $2 billion.
“Altcoin XRP saw inflows of US$145m as hopes rise for a US-listed ETF, while Polkadot and Litecoin saw inflows of US$3.7m and US$2.2m respectively.”
Ethereum (ETH) products also enjoyed $1 billion in inflows.
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The post Avalanche of Institutional Money Continues Into Crypto Products With $3,200,000,000 in Inflows: CoinShares appeared first on The Daily Hodl.
This articles is written by : Fady Askharoun Samy Askharoun
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