According to digital asset manager CoinShares, the first quarter of 2021 has produced a new record for cryptocurrency inflows.
As reported in the CoinShares Fund Flowsly weekly newsletter of 6. According to the April report, a new record was set in the first quarter of this year with inflows of $4.5 billion.
He added that the inflow of funds last week, which ended April 2, was $106 million. The Company’s total cash operating expenses were $11, up 11% from the previous quarter. However, inflows were down on previous weeks, with the 12th week of the year seeing a decline in shares. In March, an amount of $242 million was recorded.
Institutional investor inflows have declined, but CoinShares does not believe this is indicative of a broader trend of declining growth, as growth rates vary quite a bit from quarter to quarter.
Last week’s inflows were $83 million in Bitcoin products, or 78% of the total, and $20 million in Ethereum. The total volume of bitcoin investment products represents a relatively small 6.7% of the total trading volume on regulated or trusted exchanges for cryptocurrencies.
Assets under management for active and passive crypto investment products reach a record $59 billion. Gray Scale accounts for the lion’s share of this AUM with $46 billion, or 78% of the total. The second largest crypto fund is CoinShares with $5 billion in assets under management.
The European digital asset investment company has expanded its institutional products this week with the launch of a physically backed, exchange-traded Litecoin product. CoinShares’ new investment product will initially be listed on the regulated Swiss cryptocurrency exchange SIX Swiss Exchange.
Litecoin ETP is the third institutional-level product the company has launched in 2021. This follows a physically backed bitcoin ETP in January and a similar ETP for Ethereum in February.
On 1. In April, Cointelegraph reported that CoinShares has partnered with Canadian mutual fund manager 3iQ to launch a bitcoin exchange traded fund (ETF) in Canada.
3iQ launched Canada’s first institutional bitcoin fund in April 2020 and currently manages $1.7 billion in assets, according to a report from CoinShares.
new cryptocurrencyis bitcoin safebitcoin news todaycryptocurrency prices,People also search for,Privacy settings,How Search works,new cryptocurrency,is bitcoin safe,bitcoin news today,cryptocurrency prices