Over the past week, institutional investors’ interest in the cryptosphere has declined in the US.
According to CoinShares, the total investment in products focused on bitcoin and other digital currencies amounted to $ 99 million in seven days. Compared to the previous week, the inflow of investment fell by 59% (from $ 242 million).
At the same time, the researchers emphasize that the decline in demand was observed only in the American market. Institutions from Europe and Canada, by contrast, have been stepping up their purchases in the cryptosphere over the past week.
On average, the volume of transactions in bitcoin products decreased by 35% to $ 713 million in 2021. The CoinShares report also states that capital inflows to bitcoin funds totaled $ 85 million in February.
The volume of investments in funds focused on ether did not exceed $ 8 million. Analysts recorded a sharp drop in demand for products related to Binance Coin, Ripple and Bitcoin Cash.
At the moment, Grayscale remains the leader in terms of attracting institutional investors to the crypto sphere. Now digital assets are under the control of this giant. for a total amount of up to $ 44.2 billion. Funds are accumulated in cryptocurrency trusts.
The company’s Bitcoin and Ethereum trusts this week surged to $ 37.364 billion and $ 5.646 billion, respectively.
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