dailyhodl.com
Digital assets manager CoinShares says that institutional investors dropped over 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 net inflows of $2.2 billion last week.
“Digital asset investment products saw further inflows of US$2.2bn last week, raising the total inflows since interest rates were first cut in September to US$11.7bn, while year-to-date inflows at a record US$33.5bn. Inflows of US$3bn were seen in the first half of the week, although all-time-highs in the Bitcoin price spurred outflows in the latter half of the week totaling US$866m.
Recent market activity, particularly Bitcoin surpassing its all-time highs, propelled total assets under management (AuM) to a new peak of US$138bn earlier in the week.”
CoinShares says that the large inflows appear to be driven by a combination of the onset of looser monetary policy from the Federal Reserve and the Republican party’s sweep during this month’s election.
The US led the world in inflows at $2.2 billion.
Bitcoin (BTC) enjoyed the lion’s share of inflows at $1.48 billion. Leading smart contract platform Ethereum (ETH) netted inflows of $646 million, while ETH-rival Solana (SOL) roped in $24 million.
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