Institutional Investors Rapidly Purchasing Crypto Assets- Exclusive.

Institutional Investors Rapidly Purchasing Crypto Assets- Exclusive.

2021-03-26 | Mike Hallen

Institutional Investors Rapidly Purchasing Crypto Assets- Exclusive.

Inwards flows into crypto-related investment products topped $57 Bln last week, marking a new all-time high and underscoring the rapid adoption of virtual assets underway among institutions. Within its weekly inflows report, digital asset manager CoinShares added that net inflows into crypto-asset investment products rose by $99 Mln for the week ended 19th Mar. Grayscale generated $9.1 Mln of inflows, bringing its year-to-date total to $2.373 Bln. Flows into CoinShares declined by $25.9 Mln from the earlier week. Year-to-date flows have declined by $93 Mln. Grayscale is far and away from the world’s largest digital asset manager, with $44.2 Bln in assets under management as of 22nd March. With the exception of Ripple [XRP], all leading assets tracked by CoinShares recorded weekly inflows, with $85.3 Mln flowing into Bitcoin [BTC]. Interestingly, Bitcoin investment product trade volumes moderated to $713 Mln per day last week, down from the $1.1 Bln average thus far this year. Inflows into Ethereum [ETH] products increased by $7.8 Mln. Multi-asset funds generated $4.2 Mln. The CoinShares report highlighted a regional divide in institutional demand, with the U.S. observing a decline in appetite while Europe and Canada reporting gains. Canada has become a hotbed for Bitcoin ETF, with the aim of Bitcoin ETF seeing $100 Mln in volume shortly after launching earlier in the month of February. The fund is predicted to surpass all other ETFs in Canada within two months. Institutions became a new drive of the crypto market, possibly setting the stage for a more prolonged rally than the retail-driven euphoria of 2017. Bitcoin’s price topped $61k last week, with one prominent BTC miner predicting a top within the range of $150k to $300k.

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