Institutional managers buy on dips, because crypto funds inflows of US$154 million per week
According to CoinShares’ latest fund flow report, crypto investment products, including exchange-traded funds (ETFs), have inflowed a total of US$154 million each week for the week ending November 20. As in previous weeks, Bitcoin investment products attracted most of the inflows with US$114.4 million. The funds used for Ethereum flowed in at US$12.6 million per week, and the net investment in multi-asset products was US$14.1 million.
Since the beginning of the year, institutional investors have allocated more than 6.6 billion U.S. dollars to Bitcoin products, 1.17 billion U.S. dollars to Ethereum products, and more than 9.2 billion U.S. dollars to the entire cryptocurrency.
Grayscale is the largest crypto asset management company, record As of November 19, assets under management were $51.9 billion.
Update on November 19, 21: Net assets under management, holdings per share and market price per share of our investment products.
Total assets under management: US$51.9 billionBitcoin $BAT $BCH $ Link $ MANA $ ETH $ETC $ FIL $zen $LTC $LPT $ XLM $ZEC $UNI AAVE $COMP $CRV $ Mark $ Sushi $ SNX $YFI $ONE $BNT $ADA $SOL pic.twitter.com/uJNo2skPX0
-Grayscale (@Grayscale) November 19, 2021
October is a record month for Bitcoin funds Part of this is due to the approval of two futures-linked ETFs in the United States. As the price of BTC hit a record high, the institutional manager bought a Bitcoin fund worth $2 billion this month.
Although from a price point of view, there was a low level of optimism about Bitcoin in November, but the latest capital flow data shows that investors are not worried about market corrections. As Cointelegraph reported, Bitcoin hits a low of about $56,500 Before the correction is higher on November 20. As the price consolidates below US$58,000, this flagship cryptocurrency is still prone to callback again in the short term.
According to a recent A tweet from cryptocurrency analyst TechDev stated that as of July, the 2021 bull market has lagged 5 to 8 days from the 2017 cycle. If this trend continues, Bitcoin and the broader market may break through in the medium term.
So far, very similar correction structures in the market #BTC 8 hours.
It was almost 4 years apart on that day.
Since July, 2021 will continue to be 5-8 days later than 2017. pic.twitter.com/B60HQlPCec
— TechDev (@TechDev_52) November 21, 2021