According to the latest report from CoinShares, institutional flows into cryptocurrency products have increased in the past week as investment managers have increased their presence in Bitcoin (BTC) and leading altcoins.

Total assets owned by business leaders for the week ending Sunday October 17 were $ 72.3 billion, the highest ever. In comparison, institutional cryptocurrencies were valued at $ 57 billion in March and reached $ 71.6 billion in May.

Last week, digital asset investment products brought in a total of $ 80 million. Bitcoin Products attracted the largest investment of $ 70 million for the fifth consecutive week. Institutional investors also increased their stocks of Polkadot (DOT) and Cardano (ADA) products by $ 3.6 million and $ 2.7 million, respectively. Meanwhile, Ether (ETH) products saw less churn, totaling $ 1 million.

In terms of suppliers, ETC Group and 21Shares received the largest weekly inflows of $ 63.6 million and $ 19.3 million, respectively. Moving to Grayscale Products, which is the largest cryptocurrency focused fund, is easy.

Bitcoin is breaking out of its highest weekly high and Friday’s spot price was around $ 63,000. The largest cryptocurrency by market value is growing in anticipation of two ETFs entering the market in the near future. The ProShares Bitcoin Strategy ETF is set to begin trading on the New York Stock Exchange on Tuesday.

Related: Grayscale Tips on Plans to Convert Bitcoin Trust to BTC Stable ETF

A Bitcoin ETF listing in the US could attract new investors to the cryptocurrency market by giving them a familiar and highly regulated way of listing their assets. ProShares CEO Michael Sapir said on Monday that investors are eagerly awaiting the launch of a Bitcoin-focused ETF.

Weighted demand from traditional investors has been reversed in the recently launched Canadian Bitcoin ETF, which attracted multi-billion dollar inflows right after launch. The Purpose Bitcoin ETF, which launched in February, is now in control of $ 1.7 billion, according to Bybt.

Source: CoinTelegraph

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