Total investor inflows into crypto funds and products reach $5.6 billion this year, report says
Ballooning to over 600% from 2019, the total investor inflows into cryptocurrency reached $5.6 billion so far this year, based on the recent data from CoinShares.
The inflows and the most recent price moves raised assets under management for the sector to nearly $19 billion in 2020. In 2019, assets under management were just at just $2.57 billion.
Total Inflows into crypto products and investment was $335 million as of Friday, with bitcoin flows yielding $792.1 million, according to the data. Ethereum shared $207.3 million in weekly flows.
As of this time of the year, investors injected a total of $15.6 billion into bitcoin products and funds, while ethereum inflows hit almost $2.5 billion.
On Sunday, bitcoin posted yet another all-time peak of $24,298.04, but was last down nearly 3% at $22,832.78, stricken by a wave of risk-off moves in financial markets as investors weighed news coronavirus strain.
Meanwhile, ethereum, the world’s second-largest cryptocurrency, dropped 4.4% to $610.14 on Monday.