Cryptocurrency Inflows Falls To Its Lowest Levels - Exclusive.

Cryptocurrency Inflows Falls To Its Lowest Levels - Exclusive.

2021-03-09 | Eddy Morgan

Cryptocurrency Inflows Falls To Its Lowest Levels - Exclusive.

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 5th 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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