Institutional cryptocurrency administrators report record AUM despite a sharp decline in US inflows

According to CoinShares, a manager of digital asset investment, institutional demand in the US has fallen slightly, but European funds are still buying.

According to Coinshares ’22. March Fund flows every week message, combined flows into institutional crypto products reached $ 99 million for the week ending March 20.

The data suggest a significant decline in institutional demand with an inflow of 59% compared to the EU last weekwhich recorded $ 242 million.

However, the researchers noted that the value of assets under management for top institutional investment products reached a record $ 57 billion.

The report added that while demand in the US fell, institutions in Europe and Canada continued to buy last week.

Daily volumes of bitcoin-related products also fell approximately 35% to $ 713 million per day, compared to an average of $ 1.1 billion per day by 2021. However, trading volumes remain stable at $ 11.8 billion per day.

Following strong tide Ethereum During February, institutions appear to have refocused on bitcoins, with $ 85 million entering BTC funds, compared to just $ 8 million last week for ETH-based products. CoinShares noted that there was very little interest in products based on Binance Coin, Ripple and Bitcoin Cash.

The gray scale remains the leader in the institutional investment market, with total assets under management marking $ 44.2 billion on March 23. A total of 84% of this was invested in Bitcoin Trust.

CoinShares’ own fund, which ranks second in terms of AUM at less than $ 5 billion, was the only institutional crypto manager to record an outflow this week, losing $ 25.9 million. The Canadian 3iQ Fund in third place, it increased by $ 1.1 million to a total AUM of $ 1.7 billion.

At the time of writing, bitcoins continue to correct after falling 3.6% in the last 24 hours and trading at $ 54,850. Ethereum lost 4% over the same period and is currently changing owners for about $ 1,700.

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