Grayscale Considering 31 Crypto Assets for Investment Products

June 19, 2021 Bitcoin.com

Institutions dump BTC as volume soars for Ether funds

May 18, 2021 Coin Telegraph

Institutional investors appear to have offloaded nearly $100 million worth of Bitcoin exposure this past week while Ether investment product volumes surged.

CoinShares’ weekly Digital Asset Fund Flows report has revealed last week saw the largest Bitcoin in the report’s history as Elon Musk’s Twitter account again wreaked havoc in the crypto markets.

The May 17 report notes $98 million exited Bitcoin investment products last week, equating to 0.2% of total assets under management, or AUM. “While small, this marks the largest outflow we have recorded,” CoinShares noted.

Amid the tumultuous market conditions for Bitcoin, institutional investors appear to have ramped up their accumulation of Ether and other alternative cryptocurrencies, with the report identifying inflows to crypto asset investment products of $48 million when excluding Bitcoin.

Ethereum represented more than half of flows to altcoin investment products with $27 million. Cardano and Polkadot also saw increased inflows of $6 million and $3.3 million respectively.

CoinShares also notes that May is shaping up to be the first month in which investment volume for institutional Ether products has outpaced that of Bitcoin products. The report stated:

“The data impl[ies] that investors have been diversifying out of Bitcoin and into altcoin investment products.”

Digital asset investment products saw a net outflow of $50 million, marking the first week to post a net outflow since October 2020.

The institutional pivot towards Ether and altcoins reflects recent trends in the broader crypto asset ecosystem, with Bitcoin market dominance sinking to a three-year low of roughly 40% as of May 17.

Institutional XRP inflows surge as AUM nearly doubles

April 21, 2021 Coin Telegraph

Coin Telegraph

Institutional investors have rallied around XRP and other altcoins this past week, with nearly $33 million being injected in XRP investment products.

Institutional investors have rallied around XRP this past week, with the assets under management, or AUM, or XRP investment products nearly doubling.

According to CoinShares’ weekly digital asset fund flows report, roughly $33 million flowed into XRP products this week, pushing the sector’s AUM up to $83 million.

The report describes the week as the most bullish for institutional crypto products since early March, with $233 million injected in institutional funds.

Altcoins saw renewed market action overall, with $65 million allocated to Ethereum products, while Binance Coin funds took in $3 million, Bitcoin Cash saw $4 million, Polkadot received $5 million, and Tezos attracted $7 million worth of in flows. Roughly $6 million was invested into multi-asset products.

Bitcoin products represent nearly 78% of institutional AUM with $50 billion, followed by Ether with $10.7 billion or 16.8% crypto product exposure. All other crypto assets represent less than 1% of capital locked in the sector, with Binance Coin representing $571 million, Polkadot representing $45 million, and Bitcoin Cash representing $16 million.

In addition to large inflows, institutional trade volume surged, gaining 59% week-over-week to tag $4.8 billion. All-time price highs also pushed the AUM of crypto investment products into record highs above $64 billion.

Grayscale represents 77% of institutional crypto AUM with nearly $50 billion, followed by CoinShares with $5.7 billion or almost 9% of the sector’s total, and 3iQ with $1.9 billion or roughly 3%.

North American demand for institutional crypto products appears to be surging, with Canadian regulators approving three Ether exchange-traded funds, or ETF, last week, following the success of several recently launched Bitcoin ETFs in Canada.

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