Do repost and rate:
Inflows to crypto asset funds fell last week to the lowest since early this year, just as bitcoin, ether and other cryptocurrencies retreated from all-time high price levels, according to CoinShares.
- Inflows dropped to $108 million during the week ended March 5, the lowest since early January, and down from about $400 million the prior week.
- Bitcoin-focused products accounted for 90% of crypto fund inflows last week, with minor inflows to Ethereum and Polkadot investment products, according to CoinShares.
- Despite a quiet week, net flows so far this quarter – just two-thirds of the way through the three-month period – have already matched the total for Q4 2020.
- Investment products now represent 7% of bitcoin trading volumes in 2021 compared with 4% in 2020, according to CoinShares.
- According to a separate report by CryptoCompare, digital assets under management for exchange-traded products (ETPs) doubled to $43.9 billion in February, with a majority of assets residing in Grayscale's Bitcoin Trust (GBTC).
- Last week, CoinShares launched a physically backed Ethereum ETP on the Swiss SIX exchange under the ticker "ETHE."
