According to the latest reports, it seems that institutional money is flowing into Bitcoin at record rates these days. Check out the latest reports that highlight the massive crypto adoption boom.
Institutions pour money into BTC
The BTC mass adoption seems to be going amazingly these days. Digital assets manager CoinShares says large institutional investors are pouring money into Bitcoin (BTC) at rates not seen in the last six months.
In its latest Digital Asset Fund Flows Weekly Report, CoinShares revealed the fact that institutional investors are pouring money into crypto really significantly.
“Digital asset investment products saw US$117m inflows last week, the largest since July 2022, while total asset under management (AuM) have risen to US$28bn, up 43% from their November 2022 lows.”
The same notes reveal the following:
“The focus was almost entirely on Bitcoin, which saw US$116m inflows last week, although there were also minor inflows into short-bitcoin of US$4.4m.”
The very same notes that we mentioned above say that BTC and other altcoin investment products had solid inflows.
More than that, it’s been revealed by the online publication the Daily Hodl that CoinShares says multi-asset investment products, those investing in more than one digital asset, saw outflows for the ninth week in a row.
“Multi-asset investment products saw outflows for the 9th consecutive week totaling US$6.4m, suggesting investors are preferring select investments. This was evident in altcoins as Solana, Cardano and Polygon all saw inflows, while Bitcoin Cash, Stellar and Uniswap all saw minor outflows.”
Regarding the price of BTC at the moment of writing this article, BTC is trading in the red, and the king coin is priced at $22,896.
Please make sure to check out the complete official notes coming from CoinShares in order to learn all that there is to know about institutional money and crypto. Stay tuned for more news.