Institutional investors were unfazed by the recent correction in the cryptocurrency markets, as digital asset funds dedicated to Bitcoin and Ether continued to grow, according to data from CoinShares.
Crypto investment products, which include exchange-traded funds (ETFs), saw weekly inflows totaling $154 million for the week ending Nov. 20, according to CoinShares’ latest fund flows report. Like in previous weeks, Bitcoin investment products attracted most of the inflows at $114.4 million. Funds devoted to Ether saw weekly inflows of $12.6 million and multi-asset products registered $14.1 million in net investments.
Year-to-date, institutional investors have allocated over $6.6 billion to Bitcoin products, $1.17 billion to Ether products and more than $9.2 billion to crypto as a whole.
Grayscale, which is the largest crypto asset manager, recorded $51.9 billion in assets under management as of Nov. 19.
