Institutional traders closed a record amount of capital in Bitcoin investment products, despite the volume decline in the second half of 2021.

According to CoinShares’ Weekly Digital Asset Fund Movement Report on November 15, from November 8 to November 12, Bitcoin (BTC) investment product inflows totaled $97.5 million, pushing AUM asset assets to a record high. 56 billion. The total inflows from the beginning of the year until the current date last week amounted to 6.5 billion dollars.

Bitcoin instruments accounted for 64.6% of the $150.9 million invested in digital asset investment products last week. While the AUM record coincided with Bitcoin hitting a new all-time high at around $69,000 on November 10, markets have since fallen 10% to trade hands at $62,100.

While CoinShares notes that digital asset investment products have been available for 13 consecutive weeks, the sector recorded “low volumes” in the second half of 2021.

Daily volumes averaged $750 million in the second half of the year, down 22% from $960 million in the first half of 2021, according to the report.

While Ethereum saw the strongest weekly inflow of any altcoin tracking product at $17.3 million, that number represented a 44% drop on the week for the asset class. Despite the volume contraction, CoinShares recorded a record $21 billion in total assets for Ethereum products, while the price of ETH reached record levels close to $4,900 on November 10.

Cardano (ADA) came in second with $16.4 million, a 227% increase in weekly investment flows. CoinShares said it was unable to “identify a clear catalyst” driving the investment in Cardano funds.

Institutional traders closed a record amount of capital in Bitcoin investment products, despite the volume decline in the second half of 2021.

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The price of ADA has also increased significantly this week, rising from around $2 on November 8 to around $2.36 on November 10. However, the price of Cardano fell to $2.11 on Friday. The ADA is still down 46 percent from its September high of $3.09.

Investment products Solana (SOL), Polkadot (DOT) and Ripple (XRP) earned $9.8 million, $5.2 million and $3.1 million respectively during the week.

Source: CoinTelegraph

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