Demand for the recently approved space Bitcoin Exchange traded funds (ETFs) don't seem to be making any progress: Last week alone, investors poured $2.45 billion into crypto funds – a new record, according to CoinShares.
The Jersey based digital asset manager said A report on Monday said funds' total assets under management now stand at $67 billion – the highest level since December 2021, amid an upward trend.
CoinShares tracks institutional investor data; Crypto funds mentioned in the report include Grayscale, 21Shares and ProShares, all of which offer services to large-scale investors.
There are now 10 on the list of prominent funds Explore Bitcoin ETFs Trading on US stock exchanges.
In January, the Securities and Exchange Securities Commission finally gave the green light to such products that allow traditional investors to gain access to cryptocurrencies in a safe and regulated manner.
And the products were one Huge success As investors who were previously unable to get their hands on Bitcoin in a safe and regulated manner are flocking to this space. BlackRock, the world's largest asset manager, saw the largest inflows last week, the CoinShares report shows: its iShares Bitcoin Trust received over $1.6 billion.
According to Coinshares, most of the money in crypto funds has been focused on Bitcoin exposure because the funds are tied to the digital assets avalanche, chain linkAnd Polygon All recorded corresponding inflows of $1 million or less.
The price of the largest digital coin by market capitalization, Bitcoin, is currently at $51,800 and is up about 4% in seven days.
Edited by Andrew Hayward
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.