According to CoinShares' November 15 "Digital Asset Fund Flows Weekly" report, Bitcoin (BTC) investment products received total inflows of $97.5 million between November 8 and November 12 impelling the sector's assets under management (AUM) to a new high of $56 billion. Last week, year-to-date (YTD) inflows total $6.5 billion.
Moreover, Bitcoin tools accounted for 64.6 percent of the $150.9 million in virtual asset funding items last week. The document AUM corresponded with BTC achieving a new all-time high of around $69,000 on November 10, the markets have since come back by 10 percent to final industry fingers for $62,100.
Despite the fact that CoinShares reports that virtual asset funding products have seen inflows for 13 weeks in a row, the industry has seen "subdued volumes" till the end of 2021.
Daily volumes have averaged $750 million in the second half of the year, down 22 percent from $960 million in the first half of 2021, according to the report.
With $17.3 million in weekly inflows, Ethereum had the highest weekly inflows among altcoin-tracking products, but the result represented a 44 percent drop week-over-week for the asset class. Despite the lack of traffic, CoinShares reported a record AUM of $21 billion for Ethereum products, and the price of ETH hit new highs near $4,900 on November 10th.
CoinShares noted that it was unable to "recognize a noticeable catalyst" as a result of the increased investing into Cardano funds.
Regardless of the industry's decline through the second half of 2021, institutional investors have locked in a record amount of capital in Bitcoin funding products.
This week, the price of ADA jumped significantly, from around $2.00 on November 8 to around $2.36 on November 16. Cardano's value, on the other hand, dropped to $1.93 on Tuesday. ADA is still down 46 percent from its September all-time high of $3.09.
For the week, inflows into Solana (SOL), Polkadot (DOT), and Ripple (XRP) funding products totaled $9.8 million, $5.2 million, and $3.1 million, respectively.