- Total assets under management held by crypto managers have reached a record $57 billion, according to digital asset investment house CoinShares.
- US investors appear less keen on crypto, but European and Canadian appetite remains strong, the report shows.
- Bitcoin trading volume also declined by $387 million last week, it said.
Institutional crypto managers are now managing a record $57 billion in assets, according to digital asset investment firm CoinShares. Last week, net inflows totalled $73 million as minor outflows were offset by incoming investments, a weekly report by the company showed.
Grayscale Investments, the owner of the world’s largest bitcoin fund, still manages over three quarters of that record total, with around $44.6 billion, well ahead of CoinShares, which has the second-largest holding, with just shy of $5 billion in assets under management.
The vast majority of inflows in the latest week went into bitcoin, totaling $85 million. Ethereum’s ether token and Polkadot were left far behind in second and third place respectively, according to the report. Ether saw inflows of $8 million and Polkadot, $2 million. Volumes traded in bitcoin-based investment products eased back by $387 million to $713 million a day, compared to a daily $1.1 billion for 2021.
Tuesday, September 17, 2024
Institutional crypto managers are holding a record amount of digital assets, despite a decline in US inflows, CoinShares says
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