Crypto
Fund Investment Inflows Hit Second Highest Level on Record
Institutional investors have
put in $429 million into cryptocurrency funds and products the week ending on
December 7, the second-highest on record, pushing the sector’s assets under
management to a $15 billion all-time high.
Data from digital asset manager
CoinShares shows that at the end of last year, assets under management were
at $2.57 billion in the crypto space. The largest crypto fund, Grayscale, saw
inflows of over $330 million last week, and now has over $12.4 billion in
assets under management.
James Butterfill, an investment
strategist at CoinShares, noted that on an anecdotal level the firm has seen
“a decisive shift from inquiries of a speculative nature” to inquiries
pointing out bitcoin is “here to stay.”
The largest weekly inflow on
record was $468 million and was seen three weeks ago. So far this year
inflows for bitcoin-focused products have totaled nearly $4 billion.
