Total crypto assets under management reach record $72.3 billion

Capital flows into crypto investments have increased as the cryptocurrency market has consistently seen positive price movements

Cryptocurrency investment products continue to see huge inflows. The investment management company CoinShares reportthat the sector recorded another $80 million in inflows last week.

According to the company, new funds poured into crypto investment products have increased the sector’s total assets under management to $72.3 billion. According to the CoinShares report, this is the highest assets under management in the crypto sector and has increased sharply since May, when total assets stood at $71.6 billion.

Leading crypto investment manager Grayscale leads with an AUM of over $52.4 billion, while CoinShares holds just over $5 billion and Bitwise around $1.1 billion.

Bitcoin records 5th consecutive week of inflows

According to the report, $70 million of the total weekly inflows flowed into bitcoin products, with the leading cryptocurrency seeing inflows for five consecutive weeks. BTC inflows in the current year are currently around $4.64 billion, bringing the total assets managed in Bitcoin to about $50.3 billion.

CoinShares highlights that the SEC’s decision to allow the first futures-backed ETF could lead to new investors entering the market and significantly increase inflows in the coming weeks.

Bitcoin price has risen near its all-time high, and at a price of over $64,000, the world’s largest cryptocurrency value by market capitalization is likely to reach new highs.

But while Bitcoin has seen five consecutive weeks of investment inflows, that hasn’t been the case for the world’s second-largest cryptocurrency, Ethereum (ETH).

As the report’s data shows, Ethereum saw outflows for the second week in a row, with last week’s $0.9 million outflows pushing monthly deductions to $12.5 million.

Regarding Ethereum outflows, CoinShares researchers shared that the “Outflows currently are not significant to define a trend”.

Solana (SOL) also saw minor outflows last week. Investors in funds and products of the seventh-ranked crypto-currency project withdrew about 0,3 million dollars.

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

You might also like...