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Cryptocurrency Fund Flows On Track for Record Quarter
Digital asset investment products closed on Friday with a record $55.8 billion assets under management.
Updated Sep 14, 2021, 12:27 p.m. Published Mar 16, 2021, 12:22 a.m. 1 min read
First-quarter inflows to cryptocurrency investment products (ETPs) total $4.2 billion already, breaking the quarterly record of $3.9 billion in Q4 2020, according to a report by CoinShares, a digital asset investment firm.
- Digital asset investment products closed on Friday with a record $55.8 billion assets under management (AUM) following net inflows and positive price action last week of $242 million, according to the CoinShares report.
- Ethereum funds took in a net $113 million last week.
- Passive investment products with $54.1 billion AUM continue to outperform their active peers with a smaller $786 million in AUM, according to CoinShares. Passive funds simply track the price of digital assets, while active strategies adjust the weightings of their underlying holdings based on market conditions.
- “The price action as bitcoin drew closer to $60,000 led to minor outflows of $39 million last week, which we believe is due to profit taking,” according to CoinShares.
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U.S.-listed spot bitcoin exchange-traded funds have seen more than $2.26 billion in outflows over the past two weeks.
What to know:
- Bitcoin has fallen to about $74,300, more than 10% below its early May peak, as rising U.S. and global bond yields sap demand for riskier, zero-yield assets.
- U.S.-listed spot bitcoin exchange-traded funds have seen more than $2.26 billion in outflows over the past two weeks.
- Speculative capital focuses on commodities...
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