Overall, crypto products and funds recorded an inflow of $174 million
Inflows into Bitcoin products and funds hit a record $6.4 billion this year as investors bought the cryptocurrency with broader government approval and positive impetus. Displays data from the CoinShares digital asset manager.
Bitcoin entered $95 million last week, the largest digital asset according to CoinShares, while cryptocurrency flows were $2.8 billion during an eight-week spike. before.
Overall, crypto products and funds recorded an inflow of $174 million. CoinShares data on November 5 shows the 12th week in a row for institutional investors.
Bitcoin rose more than 4% to $66,555 on Monday and is near a record high of $67,016.50 on October 20. Ethereum, the basis of the Ethereum blockchain, hit a record high of $4,796.44.
“The rise in BTC prices is just confirmation of the very strong market environment that developed in October,” said Mikel Morch, executive director of crypto and digital asset hedge fund ARK36. ..
“Bitcoin trading balances are at their lowest in three years, and long-term owner supply is hitting record highs, with too few bitcoins available to meet demand.
Investors poured $31 million into Ethereum products and funding last week. Ethereum’s market share has shrunk in recent months as Bitcoin’s dominance has increased, but the combination of recent strong price developments and strong flows has pushed the asset under management to a record $20 billion. Yes.
Tron, a digital platform focused on hosting entertainment applications, has raised $79 million in the past seven weeks, making it the eighth-largest virtual asset in AUM.
The AUMs of the two largest digital asset managers, Grayscale and CoinShares, rose to $55.67 billion and $5.5 billion, respectively, last week.