CoinShares, a digital asset manager, says institutional investors invested nearly $2 billion in crypto last week.
CoinShares’ latest Digital Asset Fund Flows Report shows that crypto investments for institutions saw a net increase of 1,98 billion dollars last week.
CoinShares attributes “macroeconomic and political changes in the US” as a reason for this influx of money.
Digital asset investments saw inflows after the US election of US$1.9bn. This marks inflows inflows inflows in the fifth consecutive week. Year-to-date, inflows have reached a record US$31.3bn.
Following the recent price increases, global assets under management also hit a record high of US$116bn. The trading volume rose by US$20bn. This is not a record, but it’s the highest level since April of this year .”
The US accounted for $1.95billion of inflows. Switzerland and Germany, on the other hand, saw inflows of $23 million each.
As usual, Bitcoin’s (BTC), which accounted for $1.8 billion of all inflows, was at the forefront.
CoinShares is a popular cryptocurrency.
Ethereum (ETH), the platform for smart contracts, saw a shift in trend with $157 million in inflows. This was its biggest inflow week since ETH launched their first ETF product in July.
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The post Institutions pour nearly $2,000,000,000 into crypto products amid political and macro shifts: CoinShares can be updated as new information becomes available.
