$ 117,372.3
BTC
-0.53 %
$ 2,931.11
ETH
-2.40 %
$ 0.7090
ADA
-6.10 %
$ 685.45
BNB
-0.78 %
$ 159.08
SOL
-4.42 %

Usha Yadav
Nov 16, 2021

Institutional Traders Have Sealed $56 Bn Into Investment Products After Inflows Totaled $97.5 Last Week

Institutional Traders Sealed $56 Bn
In the last week, Institutional traders have sealed a record capital into Bitcoin investment products in spite of trade volume falling down during the second half of this year.

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.

Institutional Traders Have Sealed $56 Bn Into Investment Products After Inflows Totaled $97.5 Last Week
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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