Record first quarter to Get institutional crypto investment products: CoinShares

According to electronic asset investment manager CoinShares, the initial quarter of 2021 has struck a new album for institutional crypto merchandise inflows.As reported in the April 6 CoinShares Fund Flows Weekly bulletin, Q1 of the year hit a fresh record with $4.5 billion in inflows compared with $3.9 billion in the final quarter of 2020. It added that inflows for the last week recorded, finishing on April 2, totaled $106 million helping push the sum to the three-month period 11% higher than the prior quarter. The inflow was down on previous weeks, however, as the week end Mar. 12 recorded a $242 million inflow.While institutional inflows have slowed, but CoinShares believes it isn’t indicative of a broader slowing trend as quarterly growth rates are generally varied.Inflows for the last week have been dominated by roughly $83 million in Bitcoin products, or 78 percent of the total, and $20 million in Ethereum. Overall volumes for Bitcoin investment goods comprise a comparatively small share of 6.7% of the total trading volume for regulated or’trusted’ cryptocurrency exchanges.Assets under management for both active and passive crypto investment goods are in an all-time cost of $59 billion. Grayscale makes up the lion’s share of the AUM figure with $46 billion, or 78 percent of the total. The second-largest crypto asset fund is CoinShares itself with $5 billion in assets under management.The European electronic asset investment company has expanded its institutional goods this week with the coming of a physically-backed Litecoin exchange traded merchandise. The newest CoinShares investment merchandise will be initially listed on Switzerland’s regulated crypto exchange, SIX Swiss Exchange.The Litecoin ETP is the third institutional-grade merchandise the firm has launched in 2021. It follows that a physically-backed Bitcoin ETP in January along with a comparable one for Ethereum in February.On April 1, Cointelegraph reported that CoinShares had entered a partnership with Canadian investment fund manager 3iQ so as to launch a Bitcoin exchange-traded fund (ETF) in Canada.3iQ launched Canada’s first institutional Bitcoin fund in April 2020, and it currently has $1.7 billion in assets under management according to the CoinShares report.

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