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Institutional Crypto Managers Have Reported Record AUM Despite US Inflows Plummeting

CoinShares has revealed that institutional demand in the US has begun to slowly decline, while European funds continue to buy.

According to a “22 Fund Flows Weekly” report by Coinshares released this month, combined flows into institutional crypto products have reached $99 million for the previous week. This represents an important decline in institutional demand, with inflows going down 59% from the week before, which recorded a number of $242 million.

Still, it was mentioned that the assets under management number for the top institutional investment products had gone to reach a new record of $57 billion.

The report also shows that even if demand in the US has started to decline, institutions in Canada and Europe continue to buy.

The daily volumes for Bitcoin-related products have also decreased by close to 35% to $713 million per day, compared to the $1.1 billion per day on average that is recorded for this year. Nevertheless, trading volumes have remained steady, at around $11.8 billion per day.

After high Ethereum inflows in the month of February, institutions seem to have returned to Bitcoin. This is proven by the fact that during the previous week, $85 million have entered BTC funds, while only $8 million for ETH-based products were recorded. It was also mentioned that the interest in Ripple, Binance Coin, or Bitcoin Cash-based products has remained low.

Grayscale continues to be the market leader when it comes to institutional investment – its total assets under management are worth $44.2 billion, as the company revealed on Twitter today. From that sum, 84% was invested in the company’s Bitcoin Trust.

CoinShare’s fund, which is ranked second in terms of AUM with less than $5 billion, was the sole institutional crypto manager that went on to record an outflow for the week, as it lost $25.9 million. The third-place belongs to the Canadian 3iQ fund, which has increased by $1.1 million to a total AUM of $1.7 billion.

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