Institutional crypto managers report record AUM despite U.S. inflows plummeting

Institutional crypto managers report record AUM despite U.S. inflows plummeting
Institutional crypto managers report record AUM despite U.S. inflows plummeting

According to CoinShares’ head of digital asset investment, institutional demand in the US has fallen slightly, but European funds are still buying.

According to Coinshares’ weekly fund flow report of March 22. cumulative inflows into institutional crypto products in the week ended March 20 were 1.5 billion for a total of $99 million.

The data showed a significant decline in institutional demand, with inflows down 59% from the previous week to $242 million.

However, researchers found that assets under management in major institutional investment products reached a record $57 billion.

The report adds that while demand in the U.S. declined, institutions based in Europe and Canada continued to buy last week.

Daily bitcoin-related product volumes also fell by about 35% to $713 million per day, compared to an average of $1.1 billion per day in 2021. Nevertheless, the volume of transactions remains stable at $11.8 billion per day.

After strong inflows into Ethereum in February, institutions appear to be refocusing on Bitcoin, with $85 million flowing into BTC funds, compared to $8 million into ETH-based products last week. CoinShares noted that interest in products based on Binance Coin, Ripple and Bitcoin Cash respectively was very low.

Grayscale remains the market leader in institutional assets, with total assets under management of $44.2 billion, the company said on 23… Mars in a shared tweet. Of that amount, 84% was invested in a Bitcoin trust.

UPDATE 3/22/21 : Net assets under management, equity holdings and market price per share for our investment products.

Total assets under management: $44.2 billion $BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC $BAT $LINK $MANA $FIL $LPT

– Grayscale (@Gray Scale) March 22, 2021

CoinShares’ proprietary fund, which ranks second in assets under management (AUM) at just under $5 billion, was the only institutional crypto manager to experience outflows this week, with a loss of $25.9 million. Canadian fund 3iQ, which ranked third, won $1.1 million, bringing its total to A$1.7 billion.

At the time of writing, bitcoin continues to correct after falling 3.6% over the past 24 hours to trade at $54,850. Ethereum has lost 4% in the same period and is currently changing hands for about $1,700.

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