Institutional managers hold a record $57B worth of crypto, according to CoinShares

Institutional managers hold a record $57B worth of crypto, according to CoinShares

Inflows into cryptocurrency investment products topped $57 billion last week, marking a new all-time high and underscoring the rapid adoption of digital assets underway among institutions. 

In its weekly inflows report, digital asset manager CoinShares, said net inflows into digital asset investment products rose by $99 million for the week ended Mar. 19. Grayscale generated $9.1 million of inflows, bringing its year-to-date total to $2.373 billion. Flows into CoinShares declined by $25.9 million from the previous week. Year-to-date flows have declined by $93 million.

Our top trading bots

Grayscale is by far the world’s largest digital asset manager, with $44.2 billion in assets under management as of March 22.

With the exception of Ripple, all major assets tracked by CoinShares recorded weekly inflows, with $85.3 million flowing into Bitcoin (BTC). Interestingly, Bitcoin investment product trade volumes moderated to $713 million per day last week, down from the $1.1 billion average so far this year.

Inflows into Ethereum (ETH) products increased by $7.8 million. Multi-asset funds generated $4.2 million.

The CoinShares report highlighted a regional divide in institutional demand, with the United States seeing a decline in appetite while Europe and Canada reporting gains. Canada has become a hotbed for Bitcoin exchange-traded funds, with the Purpose Bitcoin ETF seeing $100 million in volume shortly after launching in February. The fund is expected to surpass all other ETFs in Canada within two months.

Institutions have become a major driving force of the crypto bull market, possibly setting the stage for a more prolonged rally than the retail-driven euphoria of 2017. Bitcoin’s price topped $61,000 last week, with one prominent BTC miner forecasting a top in the range of $150,000 to $300,000.

Continue reading with Cointelegraph
Boom or bust? Is there a way for Bitcoin price to hit $100K in 2022?
The internet is filled with Bitcoin (BTC) price forecasts. For example, some analysts believe that the flagship crypto will hit $1 million per coin in the...
‘Musk effect’ sees crypto named after SpaceX’s Starlink satellites gain over 140% in 3 days
In a bizarre event, a cryptocurrency with the same name as SpaceX’s satellite range Starlink jumped over 140% as Elon Musk’s space technology company launched...
Early meeting of E-Gold founders may hold clue to Satoshi Nakamoto’s identity — Peter Thiel
PayPal co-founder and billionaire venture capitalist Peter Thiel believes he may hold a clue on how to find Satoshi Nakamoto, Bitcoin’s (BTC) pseudonymous...
Crypto Mom: True decentralization is the only thing that will save DeFi projects
Hester Peirce — colloquially known as “Crypto Mom” — of the United States Securities and Exchange Commission has warned of rampant “shadow-centralization”...
Nifty News: NFTs in space, defunct CryptoPunks, Ernst & Young gets in on the act
One small step for NFTs...Two companies teamed up to stream a recording of composer Claude Debussy’s “Clair de Lune” to, and from, the International Space...
There’s no reason not to hold Bitcoin for 100 years, Michael Saylor says
Michael Saylor, CEO of business intelligence firm MicroStrategy, has staunchly defended the company’s bullish, long-term Bitcoin (BTC) position based on...
NFTs are a game changer for independent artists and musicians
The revolution will not be televised — it will be minted. Earlier this year, we saw the meteoric rise (and fall) of nonfungible tokens, or NFTs, in mainstream...
Sunday's GBTC unlock held more shares than the remaining events combined
Bitcoin (BTC) is rebounding despite the ongoing Grayscale Bitcoin Trust (GBTC) unlocking events — and most shares are already released.According to data...
$13K Bitcoin price predictions emerge with BTC falling below historic trendline
Bitcoin (BTC) prices broke below a long-standing support wave that was instrumental in keeping its strong bullish bias intact after March 2020's crypto...
Fidelity to hire more crypto hands amid growing institutional interest
Fidelity Digital, the crypto arm of the global asset management giant Fidelity Investments Inc., will reportedly hire more people for its expanding cryptocurrency...
Cardano Jumps 21% In Rally
Investing.com - Cardano was trading at $1.643326 by 13:55 (17:55 GMT) on the Investing.com Index on Sunday, up 20.84% on the day. It was the largest one-day...
Rari Capital allocates $26M from developer fund to compensate hack victims
Following a $10 million exploit over the weekend, decentralized finance protocol Rari Capital is formulating a plan to compensate victims.According to an...
Cryptocurrency firm Paxos to apply for clearing agency license
(Reuters) - Cryptocurrency firm Paxos said on Tuesday it will apply for a formal clearing agency license from the U.S. Securities regulator following a...
Ripple Will Give $25 mln to a Startup That Finds The App For Its Blockchain
The third most worthy cyber-coin in the world Ripple will be used by the self-titled startup, which issues it, to pile a quarter of a hundred million...
UN World Food Program May Refuse Banking Services
The head of the World Food Program (WFP) Robert Opp said that his department is developing a financial infrastructure for the more efficient use of distributed...