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Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares

Daily HodlDaily Hodl2024/11/17 16:00
By:by Daily Hodl Staff

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.”

Institutional Crypto Products See $2,200,000,000 in Weekly Flows Setting Year-to-Date Record: CoinShares image 0 Source: CoinShares

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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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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