December 4, 2021

Institutional Investors Invested $ 72.3 Billion In Cryptocurrency

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 general institutional 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 only 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 a rapidly growing industry. For example, Square is looking into the prospects for setting up a Bitcoin mining hardware business.

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