Despite the bullish market momentum, institutional crypto products have flowed out for the fifth consecutive week.
On its 9th of August Digital Asset Fund Weekly Report Report, Institutional asset management company CoinShares estimates that the total outflow this week is $26 million.However, the report pointed out that compared with May and June, the outflow has decreased. Outflows soared to a record weekly US$141 million.
Although BTC has risen by 17.5% in the past week, the Bitcoin fund has fallen by $33 million in the past week.
CoinShares’ own BTC product was the biggest loser during the period, with an outflow of $63.3 million, while Grayscale, the world’s largest crypto asset management company, was flat. According to Grayscale’s latest update on August 10, the total value of assets under its fund management rebounded to more than US$40 billion for the first time since mid-May.
Update on August 9, 21: Net assets under management, holdings per share and market price per share of our investment products.
Total assets under management: US$40.4 billionBitcoin $BAT $BCH $ Link $ MANA $ ETH $ETC $ FIL $ZEN $LTC $LPT $ XLM $ZEC $UNI $ AAVE $COMP $CRV $ Mark $ Sushi $ SNX $YFI $ONE $BNT $ADA pic.twitter.com/ju95J9n68H
-Grayscale (@Grayscale) August 9, 2021
However, Ethereum-based investment products As the Ether rose after the successful upgrade in London last week, there was an inflow of US$2.8 million this week. Ether products now account for 26% of the capital invested in institutional crypto products.
Some altcoin funds have a small inflow of funds, including XRP, Bitcoin Cash, Cardano and multi-asset funds-each fund has an inflow of between $1.1 million and $800,000.
CoinShares also pointed out that a record 37 new cryptocurrency funds have been launched so far in 2021, surpassing the 30 cryptocurrency funds launched in 2018:
“We have seen an accelerated growth in the number of funds/investment products that have recently been listed. A record 37 were launched this year and a high of 30 were set in 2018.”
Following Recent market momentum, The total assets under management (AUM) of all institutional encryption products has exceeded US$50 billion, which is the highest level since mid-May.
CoinShares also has Publish Its financial status for the first half of 2021 shows that its total revenue is US$81.2 million. Therefore, CoinShares’ revenue is three times that of the entire 2020 in the first half of this year.
As of June 30, 2021, CoinShares’ total asset management scale was USD 3 billion, an increase of 27.6% from the end of December 2020.