According to reports, CoinShares, a digital asset investment management company, said that so far in 2021, the inflow of institutional-level encrypted asset investment products hits $4.2 billion, a record high. According to Coinshares’ weekly fund flow report on March 15th, in the first quarter of 2021, the inflow of funds into cryptocurrency funds increased by 7.7%, reaching $4.2 billion. This breaks the quarterly record of $3.9 billion in the fourth quarter of 2020.
There are 5 digital asset investment providers with assets under management of more than $1 billion. They include Grayscale, CoinShares, 3iQ, ETC Issuance, and 21Shares. It is worth noting that the newly established Purpose Bitcoin Fund ranks sixth with an asset under management of $517 million.
The report pointed out that the crypto-asset investment fund closed on March 12 (Friday), with assets under management reaching a record $55.8 billion. The price trend in the previous week was bullish. Such investment products flowed in at $242 million, compared with the previous week’s $108 million increase of 124%.
The Bitcoin trading volume of major exchanges is slightly higher than the average, at $11.8 billion per day. Although Bitcoin is still the dominant asset, the flow of funds into Ethereum investment products is also increasing. In the week ending March 12, there was an inflow of $113.5 million, accounting for almost 50% of the total. Ripple-based products are the only digital asset products with reduced inflows this week.
Gizchina News of the week
In addition, the crypto asset fund Grayscale stated in its latest announcement that its assets under management are $42.9 billion, of which 84% are Bitcoin trust funds that have been on fire recently.
Bitcoin hits $61,000 in a new record
Bitcoin crossed the $ 60,000 mark recently, and now it has stably fixed itself at $ 61,000 (peaking at $ 61,683). This situation plays into the benefit of cryptocurrency miners and plays against ordinary players: the more expensive BTC is, the greater the demand for funds for its production – video cards, the more scarce and more expensive they are.
Miners, in turn, use completely different farms and cooling technologies for 3D accelerators; now, along with liquid cooling, oil cooling is also in use. In the meantime, we note that along with Bitcoin, other cryptocurrencies are also growing rapidly. So, Etherium has already come close to $ 2,000, and Binance Coin may soon storm the $ 300 mark.
After Tesla spent US$1.5 billion to invest in Bitcoin in January this year, the price of Bitcoin soared from US$38,903. According to CoinMarketCap’s record on February 19, the value of each Bitcoin price has reached US$55,000. More interestingly, the market value has exceeded the US$1 trillion threshold for the first time.
