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.”
Source: CoinSharesMost 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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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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