CoinShares, one of the world’s largest digital asset management firms, has released its weekly digital asset fund flows report, noting a record inflow of $1.47 billion last week.
According to the report shared with Finance Magnates, US$1.47 billion was invested in digital asset investment products last week, the largest amount on record. In addition, a new record was set during the week when total assets under management reached US$79.2 billion but closed the week at US$76.7 billion.
The US Securities and Exchange Commission’s (SEC) approval of a Bitcoin ETF investing in futures and the subsequent listing of two Bitcoin investment products resulted in record inflows of US$1.24 billion. Additionally, a number of altcoins also won inflows, including Binance Coin (BNB), Cardano (ADA), and Solana (SOL), with $8.1 million, $5.3 million, and $1.8 million, respectively. Bitcoin also saw 99% of the inflows over the last week, CoinShares noted.
“Inflows into Bitcoin products were also seen in other regions totaling US$138m, although there was evidence of profit-taking with some older investment products seeing outflows. Ethereum saw outflows for a 3rd consecutive week totaling US$1.4m in what we believe is minor profit taking as the price closes-in on all-time-highs,” the report added.
Early this month, an investment of $11,845,790 was made by CoinShares in FlowBank, a Geneva-based online bank. FlowBank holds 110,000 shares of the company or 9.02% of its enlarged share capital. FlowBank was founded by Charles-Henri Sabet in 2020 and is licensed by the Swiss Financial Market Supervisory Authority (FINMA).
FlowBank offers a wide range of services. Among the financial products available to the company’s clients are stocks, bonds, commodities, ETFs, Forex, and CFDs. The crypto ETPs offered by CoinShares are already available to customers of FlowBank. The Swiss crypto ecosystem has grown significantly in the last 12 months. During the last week of September 2021, the Swiss Financial Market Supervisory Authority approved the country’s first cryptocurrency fund.
Source: Read Full Article