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Record first quarter for institutional crypto investment products: CoinShares

Assets under management for institutional funds have hit a record high of $59 billion.
According to digital asset investment manager CoinShares, the first quarter of 2021 has hit a new record for institutional crypto product inflows.As reported in the April 6 CoinShares Fund Flows Weekly bulletin, Q1 of this year hit a new record with $4.5 billion in inflows compared with $3.9 billion in the final quarter of 2020.It added that inflows for the past week recorded, ending on April 2, totaled $106 million helping push the total for the three-month period 11% higher than the previous quarter. The inflow was down on previous weeks, however, as the week ending Mar. 12 recorded a $242 million inflow.While institutional inflows have slowed, CoinShares believes it is not indicative of a broader slowing trend as quarterly growth rates tend to be varied.Inflows for the past week have been dominated by $83 million in Bitcoin products, or 78% of the total, and $20 million in Ethereum. Overall volumes for Bitcoin investment products comprise a relatively  small share of 6.7% of the total trading volume for regulated or ‘trusted’ cryptocurrency exchanges.Assets under management for both active and passive crypto investment products are at an all-time high of $59 billion. Grayscale makes up the lion’s share of this AUM figure with $46 billion, or 78% of the total. The second-largest crypto asset fund is CoinShares itself with $5 billion in assets under management.The European digital asset investment firm has expanded its institutional products this week with the introduction of a physically-backed Litecoin exchange traded product. The new …
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