CoinShares, a crypto asset manager, says that institutional investors have poured billions of dollars into digital assets investment vehicles in the last week to prepare for Donald Trump’s inauguration.
CoinShares’ latest Digital Asset Fund Flows Report shows that crypto investments by institutions topped $2 billion in the last seven days.
Digital asset investment products saw inflows totaling US$2.2bn during the Trump inaugural euphoria. This was the biggest week inflows this year. Year-to-date inflows now stand at US$2.8bn.
The recent price increases have driven total assets under Management (AuM), a measure of the value of the company’s investments, to a record high. Globally, ETPs’ (exchange traded products) trading volume remains high. It reached US$21bn in the last week. This represents 34% of all bitcoin trades on trusted exchanges .”
Inflows from the US region amounted to $2 billion, with Switzerland and Canada contributing $89 and $13 millions respectively.
As usual, Bitcoin (BTC), investment vehicles, attracted the largest amount of money, $1.9 billion.
“Unlikely, in spite of the recent rises in prices, we’ve seen outflows on short positions amounting to US$0.5m. Normally, there are inflows following such price momentum.”
Ethereum (ETH), which had a poor year, saw inflows totaling $246 millions over this period.
The XRP product also experienced an inflow of 31 million dollars.
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The post CoinShares: ‘Trump’s Inauguration’ Triggers $2.200 Billion in Institutional Flows’ may be updated as new information becomes available.
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