Digital assets manager CoinShares says institutional investors poured a record $3.85 billion into crypto investment vehicles last week.
In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a record in net inflows that brought yearly flows to $41 billion last week, also a new record.
“Digital asset investment products saw the largest weekly inflows on record last week totaling US$3.85bn, smashing the prior record set just a few weeks ago. This has pushed total inflows year-to-date (YTD) to US$41bn and total assets under management (AuM) to a new high of US$165bn — prior cycle highs in 2021 saw inflows of US$10.6bn and an AuM high of US$83bn.”
The US region led the way internationally with $3.6 billion in inflows. Switzerland, Germany, Canada, and Australia joined to the tune of $160 million, $116 million, $14 million, and $10 million in inflows, respectively.
Last week, Bitcoin (BTC) added $2.5 billion in inflows to its year-to-date inflows total of $36.5 billion.
“Short bitcoin has seen tepid inflows of US$6.2m, historically we have seen much higher inflows after sharp price rises suggesting investors remain cautious on betting against the recent strong price momentum.”
Ethereum (ETH) set a personal best for inflows at $1.2 billion. Meanwhile, ETH competitor Solana (SOL) suffered $14 million in outflows.
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The post Crypto Investment Products Break Previous Record With $3,850,000,000 in Weekly Inflows: CoinShares appeared first on The Daily Hodl.