Global Cryptocurrency Assets under Management Reached $57 Billion

The cryptocurrency market added nearly $1 trillion in its market cap over the last 12 weeks. The institutional demand for crypto investment products is surging amid a jump in the price of digital assets.

According to the weekly cryptocurrency inflows report published by CoinShares, the digital asset investment products attracted a total of $99 million last week as the total cryptocurrency assets under management reached a record high of $57 billion.

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, the world’s largest cryptocurrency attracted a total of $85 million last week. Ethereum and Polkadot reported weekly inflows of $8 million, and $2 million, respectively. Limited investment activities were reported in Binance, XRP and Bitcoin Cash.

“Since the February price highs and heightened Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term, we have seen a steady decline in appetite amongst investors. Although it looks to be a regional divide, with a declining appetite from the United States and a sustained appetite in Europe and Canada. We have also seen a decline in Bitcoin Investment product trading volumes to $713 million per day last week, versus $1.1 billion per day for 2021,” CoinShares mentioned in the report.

Cryptocurrency Market

The cryptocurrency market is up by more than 100% since the start of 2021. The overall market cap of digital assets touched an all-time high of $1.85 trillion on 20 March. In the last 24 hours, the market saw a correction of nearly $100 billion. Bitcoin remained the largest cryptocurrency in terms of market cap, the digital asset is now trading near $54,000 with a market cap of around $1 trillion. Ethereum, the world's second-largest digital currency, is trading near $1,650. Grayscale is the largest cryptocurrency asset manager in the world. The company recently crossed $45 billion in digital assets under management. Grayscale has more than 654,000 Bitcoin under management along with 3.18 million Ethereum and 1.47 million Litecoin.

The digital asset manager recently introduced MANA, LPT, BAT, LINK and FIL investment trusts. The company holds more than 290,000 Bitcoin Cash (BCH) and nearly 12 million Ethereum Classic (ETC).