According to the digital asset manager CoinShares, from March 15 to March 20, institutional investors significantly reduced their investments in cryptocurrency – to $ 99 million.
A week earlier, the figure was noticeably higher and amounted to $ 242 million. At the same time, demand fell precisely from American companies, while European and Canadian firms continued to buy cryptocurrencies. Despite the slowdown in investment inflows, the total amount of digital assets of institutional investors in cryptocurrency funds reached $ 57 billion.
The trading volumes in investment products for bitcoin also decreased – to $ 713 million against $ 1.1 billion a week earlier. At the same time, the total trading volume remained at the same level – $ 11.8 billion per day. Of the $ 99 million invested, $ 85 million was invested in Bitcoin products, and $ 8 million went to Ethereum funds and trusts. Interest in funds for Bitcoin Cash, Ripple and Binance Coin was extremely low.
Grayscale remains the market leader – it manages assets for $ 44.2 billion, with 84% of these funds invested in a Bitcoin fund. CoinShares manages a fund for $ 5 billion, but during the week the volume of funds under the management of the company decreased by $ 25.9 million. The CoinShares fund was the only one that showed a decrease in the volume of assets. Canadian company 3iQ manages a $ 1.7 billion trust.
Recall that at the end of January, the inflow of institutional investors’ funds into cryptocurrency funds amounted to a record $ 1.3 billion per week.
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