Digital assets manager CoinShares says institutions poured a record $2.7 billion into crypto investment products last week for a sixth consecutive week of inflows.
In its latest Digital Asset Fund Flows report, CoinShares says that year-to-date inflows for crypto investment products are also nearing the record mark.
“Digital asset investment products saw record weekly inflows totaling US$2.7 billion, bringing total inflow year-to-date to US$10.3 billion, just shy of the record US$10.6 billion inflows for the whole of 2021.”
According to CoinShares, the total amount of crypto assets under management is reaching a new all-time high.
“Recent price gains have pushed total assets under management (AuM) to a record high of US$94.4 billion, having leaped 14% over the last week and rising 88% so far this year.”
The firm says that the US saw by far the most inflows at $2.8 billion, followed by Switzerland and Brazil, which saw $21 million and $18 million respectively.
Per usual, Bitcoin (BTC) enjoyed the lion’s share of inflows at $2.6 billion. Short BTC products saw much smaller inflows at $11 million.
Solana (SOL) enjoyed $21 million in inflows after weeks of negative sentiment. Polkadot (DOT), Fantom (FTM), Chainlink (LINK) and Uniswap (UNI) brought in $2.7 million, $2 million, $2 million and $1.6 million, respectively.
“Conversely, Ethereum, which is on a much better footing on year-to-date inflows saw minor outflows of US$2.1m last week.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxGenerated Image: Midjourney