Cryptocurrencies post record inflows in latest week -CoinShares data
Information about Cryptocurrencies post record inflows in latest week -CoinShares data
By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) – Cryptocurrency products and funds had record inflows last week to the tune of $1.5 billion, their 10th straight week of investments, as optimism soared with the trading of bitcoin exchange traded funds, a report from digital asset manager CoinShares showed on Monday.
Inflows so far this year hit $8 billion, far exceeding the record set for the whole of 2020 of $6.7 billion, the data showed as of the week ended Oct. 22.
Total assets under management also hit a new record of $79.2 billion, although it ended the week at $76.7 billion.
The bulk of inflows for the sixth straight week went to Bitcoin, with $1.45 billion, data showed. Inflows to the world’s largest cryptocurrency year-to-date amounted to $6.1 billion.