Cryptocurrency News

Institutional Investors Now Hold A Big Portion Of Crypto Market – 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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