Bitcoin funds see inflow for 5th week in a row, institutional crypto funds now manage record amount

Inflows into institutional cryptocurrency funds continued to increase last week and the total under management has even reached a new all-time high. This is evident from the weekly report from CoinShares, published Oct. 18.

Crypto investment products saw net inflows of as much as $80 million last week. Bitcoin (BTC) funds once again led the way, seeing inflows of $70 million. It was the fifth straight week of positive net inflows for bitcoin products.

It is a decrease compared to a week earlier, when even $225 million bitcoin products flowed in. It is also still well below the amount that went to BTC funds early this year.

Polkadot (DOT) funds also saw positive inflows of $3.6 million. For cardano (ADA) products, that was $2.7 million. Ripple (XRP) saw a small increase of $0.7 million, while solana (SOL) saw a small decrease of $0.3 million. SOL products saw a strong influx in the weeks before that.

Ethereum (ETH) products are seeing another small net outflow of about $1 million. It’s the second week in a row that ether funds have shown negative net outflows, but CoinShares says it’s not significant enough to call it a downtrend.

Due to the positive inflows, coupled with the rising prices, institutional crypto asset managers now manage a record amount of no less than $72.3 billion. That is higher than the May high, which then stood at $71.6 billion.

CoinShares says the highly anticipated launch of a bitcoin (futures) ETF in the US market could fuel further inflows in the coming weeks:

“The SEC’s recent decision to allow a futures-based ETF in the United States could lead to further significant inflows in the coming weeks as US investors begin to add positions.”

Read Also:  According to Michael Saylor, Bitcoin is a “digital property” and not a currency

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here