Business-wide product flows for crypto-asset investments have already reached record highs in 2021, according to CoinShares, digital asset investment manager.
According to Coinshares ’15. March weekly cash flow report, increased inflow to cryptocurrencies in the first quarter by 7.7% to $ 4.2 billion, breaking the quarterly record of $ 3.9 billion in the fourth quarter of 2020.
There are currently five digital investment investment providers with over $ 1 billion in assets under management, or AUM: Grayscale, CoinShares, 3iQ, ETC Issuance and 21Shares. The recently launched Purpose Bitcoin Fund ranks sixth with $ 517 million in total assets, according to the report.
The report indicated that Kryptoasset’s investment fund closed on Friday 12. March with $ 55.8 billion in total assets following the week’s bullish price movement. These types of investment products raised $ 242 million, an increase of 124% from $ 108 million last week.
While Bitcoin remains the dominant asset, the money flowing into Ethereum-based investment products increases as the asset’s popularity grows among institutional investors. For the week ending March 12, the inflow was $ 113.5 million, which is about 50% of the total.
Multi-asset funds ranked third with weekly inflows of $ 3.6 million and total assets of $ 2.3 billion, according to the report. The only digital asset products that saw a decline in inflows this week were Ripple-based products that raised $ 1 million during the period.
The report indicated that bitcoin trading volumes on reliable exchanges were slightly above average at $ 11.8 billion per day against $ 10.8 billion per day on average in 2021.
In its latest announcement, the leading global crypto asset fund Grayscale announced $ 42.9 billion in assets under management, of which 84% of the money is the popular Bitcoin Trust.