Institutional Investors Invested $ 72.3 Billion In Cryptocurrency

According to CoinShares, institutional investors continue to increase their share in the digital asset market, and now manage cryptocurrencies with a total value of $ 72.3 billion.

The company's latest report says thatLast week, about $ 80 million was invested in institutional-grade products, $ 70 million of which fell on bitcoin holdings. Among altcoins, Polkadot ($ 3.6 million) and Cardano ($ 2.7 million) have received the most attention. At the same time, Ethereum-based products experienced a $ 1 million churn.

Current level of generalinstitutional level investments of $ 72.3 billionis a record one in the entire history of the crypto market. Even during the May rise, the cost of products was estimated at $ 71.6 billion, and in March it was 22% less and amounted to $ 57 billion.

The lion's share of the growth comes from just 2 funds: ETC Group, which raised $63.6 million and 21Shares – $19.3 million

This week the BTC rate is moving towardshistorical high on expectations of the launch of the first US exchange-traded fund based on bitcoin futures. ProShares yesterday announced its ETF listing on NYSE Arca on Tuesday.

Recognition of cryptocurrencies by institutional playersencourages large companies to enter the rapidly growing industry. For example, Square is studying the prospects of organizing a business for the production of equipment for Bitcoin mining.

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