Digital assets manager CoinShares says institutional investors have poured nearly $2 billion into crypto products in the past week.
In his latest Digital Asset Fund Flows reportCoinShares says institutional crypto investment products saw an increase in inflows of $1.98 billion net last week.
CoinShares attributes the surge of inflows to “macroeconomic factors and US political shifts.”
“Digital asset investment products saw inflows of $1.98 billion following the US elections, marking the fifth consecutive week of inflows with inflows reaching a new record of $31.3 billion this year.
Global assets under management also reached a new all-time high of $116 billion following last week’s price increases. Trading volumes increased by $20 billion, not a new record but the highest since April this year.”
Most of the inflows came from the US, which generated $1.95 billion of the inflows. In other regions, Switzerland and Germany attracted $23 million and $20 million in inflows respectively.
As usual, Bitcoin (BTC) was at the center of the lion’s share of the inflows at $1.8 billion.
Says CoinShares,
“A combination of a supportive macro environment and seismic shifts in the US political system are the likely reason for such supportive investor sentiment.”
Ethereum (ETH) saw a trend reversal with $157 million inflows, marking the smart contract platform’s biggest week of inflows since ETH’s first exchange-traded fund (ETF) product launched in July.
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