Cryptocurrency Inflows Falls To Its Lowest Levels - Exclusive.
2021-03-09 | Eddy Morgan
Inflows to cryptocurrency asset funds fell last week to
rock bottom since the starting of this year,
just as Bitcoin [
BTC, +6.52%], Ethereum [ETH, +5.87%] along other crypto-assets retreated from all-time high price levels,
consistent with CoinShares.
Inflows dropped to $108 Mln within the week ended on 5
th March,
rock bottom since early January, and down from about $400 Mln the earlier week.
Bitcoin-focused products accounted for 90% of cryptocurrency fund inflows last week, with minor inflows to Ethereum and Polkadot investment products,
consistent with CoinShares.
Despite a quiet week, net flows
thus far this quarter - just two-thirds of the way via the three-month period – have already matched
the entire for Q4 last year.
Investment products now represent 7% of bitcoin trading volumes within this year in 2021 compared with 4% earlier in 2020,
consistent with CoinShares.
The Digital assets under management for ETPs doubled to $43.9 Bln earlier in February, with a majority of assets residing in Grayscale's Bitcoin Trust [GBTC],
consistent with a report by CryptoCompare.
In line with another
report by CryptoCompare, digital assets under management for ETPs [Exchange-Traded Products] have doubled to $43.9 Bln in February, with a majority of assets residing in Grayscale's Bitcoin Trust [GBTC].
Earlier last week, CoinShares revealed its physically-backed Ethereum ETP on
Swiss SIX exchange under the ticker "ETHE."
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