According to reports, CoinShares, a digital asset investment management company, has said that by this time in 2021, institutional-level inflows of asset-encrypted investment products will reach $4,2 billion. According to the March 15 Coinshares weekly fund flow report, inflows into cryptocurrency funds rose 2021% to $7,7 billion in the first quarter of 4,2. This breaks the quarterly record of $3,9 billion in the fourth quarter of 2020.
There are 5 investment digital asset providers with more than $1 billion in assets under management. These include Grayscale, CoinShares, 3iQ, ETC Issuance and 21Shares. It's worth noting that the recently launched Bitcoin Target Fund ranks sixth with $517 million in assets under management.
The report indicates that the cryptocurrency asset investment fund closed on March 12 (Friday), with assets under management reaching a record $55,8 billion. The price trend of the previous week was bullish. The flow of such investment products was $242 million, compared to an increase of $108 million in the previous week, a 124% increase.
The volume of bitcoin trading on major exchanges is slightly higher than the average - $11,8 billion per day. While Bitcoin is still the dominant asset, the flow of funds into Ethereum investment products is also increasing. In the week ending March 12, the inflow amounted to 113,5 million USD, which was almost 50% of the total amount. Ripple-based products are the only digital asset product with reduced inflows this week.
In addition, crypto-asset fund Grayscale said in its latest filing that it has $42,9 billion in assets under management, of which 84% are bitcoin trust funds that have been on fire recently.
Bitcoin hits $61000 in new record high
Bitcoin recently crossed the $60 mark and is now firmly fixed at $000 (high $61). This situation benefits cryptocurrency miners and plays against ordinary players: the more expensive BTC, the greater the demand for funds for its production - video cards, the scarcer and more expensive.
Miners, in turn, use completely different farms and cooling technologies for 3D accelerators; at this time, along with liquid cooling, oil cooling is also used. Meanwhile, we note that along with Bitcoin, other cryptocurrencies are also growing rapidly. So, Etherium has already approached $2000 and Binance Coin may soon storm the $300 mark.
After Tesla spent $1,5 billion investing in Bitcoin in January of this year, the price of Bitcoin soared from $38. According to a CoinMarketCap entry dated February 903, the value of each Bitcoin price reached $19. More interestingly, the market cap has crossed the $55000 trillion mark for the first time.
