Breaking down the latest inflows, the Coinshares weekly report that tracks the flow of money into digital asset funds shows that Grayscale accumulated $336 million or roughly 78% of the $429 million. Following its latest acquisitions, Grayscale has now accumulated $4.3 billion in digital assets in 2020 so far and the fund currently leads the pack with $12.4 billion AUM.
Meanwhile, in his comments following the release of the report, James Butterfill, the investment strategist at CoinShares says:
On an anecdotal level, based on our client conversations over the course of 2020, we have seen a decisive shift from enquiries of a speculative nature to those that begin with comments such as, ‘bitcoin is here to stay, please help us understand it.
Butterfill believes institutional interest and adoption of digital assets is ongoing instead of cooling down.
In the meantime, the data shared by Coinshares shows that gold experienced “outflows from investment products of a record $9.2 billion over the last four weeks while Bitcoin saw inflows totalling $1.4billion.”
if (!window.GrowJs) { (function () { var s = document.createElement(‘script’); s.async = true; s.type = ‘text/javascript’; s.src = ‘https://bitcoinads.growadvertising.com/adserve/app’; var n = document.getElementsByTagName(“script”)[0]; n.parentNode.insertBefore(s, n); }()); } var GrowJs = GrowJs || {}; GrowJs.ads = GrowJs.ads || []; GrowJs.ads.push({ node: document.currentScript.parentElement, handler: function (node) { var banner = GrowJs.createBanner(node, 31, [300, 250], null, []); GrowJs.showBanner(banner.index); } }); Nominally, the combination of a weak US dollar-the consequence of an excessive monetary policy-and the uncertainty spawned by the COVID-19 pandemic is enough to spark a rush for gold. Already, data is showing that inflows into gold are up by $45.7 billion so far in 2020.
Yet as authors of the Coinshares report explain, the $9.2 billion gold reversal shows that “investors are choosing to allocate to bitcoin to help diversify the limited-supply asset component of their portfolios.”
Do you agree that institutional investor interest in cryptocurrencies is heating up? Tell us what you think in the comments section below.
The post Record $15 Billion Worth of Cryptos Under Management After Institutional Investors Pump $429 Million in One Week appeared first on Bitcoin News.
[…]
Learn more
The Tulip Prize [1] was awarded yesterday to François Villeroy de Galhau for a speech…
Senator Elizabeth Warren, supported by other senators, today introduced a bill titled the “Digital Asset…
President Volodymyr Zelensky today signed the “virtual assets” law adopted by the Ukrainian parliament on…
Joe Biden today signed an executive order asking the federal government to assess the risks…
After the implementation of the Ethereum blockchain in the consensus Proof-of-Stake model called “Beacon Chain”,…
It hung in the face of investors, this correction. And if the movements of Bitcoin…
Leave a Comment