Most cryptocurrencies in the market appeared to be trading in the red, at press time. After scoring big gains in “Uptober[1],” Bitcoin[2] is now struggling to remain in the green after hitting a new ATH. Although it did see some relief following the Taproot[3] upgrade, BTC was down 7% lower over the 24-hour window.
Many of the industry’s altcoins followed Bitcoin’s lead too. Nevertheless, big investors continue to be bullish on crypto.
According to CoinShares’ November 15 Digital Asset Fund Flows Weekly report[4],
“Digital asset investment products saw inflows totalling US$151m last week, the 13th consecutive week of inflows, bringing year-to-date inflows to a record US$9bn. Intra-week prices rises also saw total assets under management (AUM) reach record highs of nearly US$87bn, but closing the week at US$83bn.”
Interestingly, it signified that institutional traders locked a record sum of capital into investment products. However, trade volumes did decline during the second half of 2021.
James Butterfill, CoinShares’ Investment Strategist, opined,[5]
“Although flows have been positive recently, we have witnessed subdued volumes in 2H, averaging US$750m daily versus US$960m in 1H 2021.”
The graph attached below highlighted the weekly crypto-asset flows –
Source: CoinShares[6]
The king cryptocurrency flashed some interesting figures for the entire market.
Source: CoinShares[7]
Bitcoin saw total inflows of $97.5 million between 8 and 12 November. Its assets under management (AUM) hiked to a record level of $56 billion. Year-to-date (YTD) inflows also tagged $6.5 billion last week. The recorded numbers marked significant growth for Bitcoin instruments, especially when compared to the previous report[8].
Despite the decline in the volumes, however, Bitcoin investment products did see some impressive statistics.
