Cryptocurrency investment product offerings peaked at $ 57 billion last week, marking a new full-time job and highlighting the rapid adoption of digital assets by organizations.
In its weekly flow report, digital asset manager CoinShares reported that net inflows from digital asset investment products increased by $ 99 million in the week ending March 19. The gray scale generated $ 9.1 million in inflows, bringing it to $ 2.373 billion this year. … CoinShares flows down $ 25.9 million from last week. Since the beginning of the year, electricity prices have decreased by $ 93 million.
Grayscale is the world’s largest digital asset manager with total assets of $ 44.2 billion as of March 22.
With the exception of Ripple, all major assets tracked by CoinShares recorded weekly inflows, with an influx of $ 85.3 million bitcoin (BTC). Interestingly, trading volumes for Bitcoin investing products fell to $ 713 million per day last week, compared to an average of $ 1.1 billion this year.
Ethereum product flows (ETH) increased by $ 7.8 million. The multi-asset funds brought in $ 4.2 million.
CoinShares’ report highlights a regional gap in institutional demand, with the US seeing a decline in appetite, while Europe and Canada are growing. Canada has become a hotbed of bitcoin-listed funds, and the Bitcoin ETF reached $ 100 million shortly after its launch in February. The fund is expected to outperform all other Canadian ETFs within two months.
Institutions have become the main driver of the coded beef market, and may pave the way for a longer-than-euphoric recovery of 2017 led by retail. Last week, the Bitcoin price peaked at $ 61,000 and the popular miner expected BTC $ 150,000. Peak reaches $ 300,000.