Institutions Pour Nearly $2,000,000,000 Into Crypto Products Amid Political and Macro Shift: CoinShares
Digital assets manager CoinShares says that institutional investors dropped nearly two billion dollars into crypto products last week.
In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a surge in inflows to the tune of $1.98 billion on net last week.
CoinShares attributes the stream of inflows to “macroeconomic factors and US political shifts.”
“Digital asset investment products saw post-US election inflows of US$1.98bn, marking inflows for the 5th consecutive week with year-to-date inflows having reached a new record of US$31.3bn.
Global assets under management, following the price rises last week, also reached a new all-time high of US$116bn. Trading volumes rose US$20bn, not a new record but the highest since April this year.”
Most inflows came from the US, which provided $1.95 billion of the inflows. In other regions, Switzerland and Germany raked in $23 million and $20 million in inflows respectively.
Per usual, Bitcoin (BTC) was the focus of the lion’s share of inflows at $1.8 billion.
Says CoinShares,
“A combination of a supportive macro environment and seismic shifts in the US political system being the likely reason for such supportive investor sentiment.”
Ethereum (ETH) saw a trend reversal with inflows of $157 million, marking the smart contract platform’s biggest week of inflows since ETH’s first exchange-traded fund (ETF) product launched in July.
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The post Institutions Pour Nearly $2,000,000,000 Into Crypto Products Amid Political and Macro Shift: CoinShares appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
