Global Cryptocurrency AUM Reaches $72 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, Polkadot and Cardano saw significant institutional inflows last week. Overall, crypto investment products saw inflows worth $80 million during the recent week.

According to the latest digital asset weekly fund flows report published by CoinShares, the total value of global cryptocurrency assets under management (AUM) now stands at around $72.3 billion, which is their highest level on record. The total value of Bitcoin assets under management stands at around $50 billion.

Last week, Bitcoin investment products attracted $70 million worth of inflows, the 5th consecutive week of inflows for the world’s most dominant cryptocurrency asset. Polkadot saw inflows worth $3.6 million while Cardano attracted $2.7 million worth of inflows during the mentioned period.

“Digital asset investment products saw inflows totaling US$80m last week. These inflows, combined with positive price action over the week, have pushed total assets under management (AUM) to US$72.3bn, their highest level on record, surpassing the previous record of US$71.6bn set in May this year. Bitcoin, the world’s biggest cryptocurrency, saw the largest inflows, totaling US$70m, marking the 5th consecutive week of inflows,” CoinShares mentioned in the report.

Due to the latest jump in the price of Bitcoin, institutional investors have increased their BTC exposure during the last few weeks. The cryptocurrency is now trading near its all-time high of $64,000 with a market cap of over $1.2 trillion.

Cryptocurrency ETF

According to CoinShares, the latest cryptocurrency ETF decision by the SEC will play a major role in the future crypto inflows. “The recent decision by the SEC to allow a futures-based ETF in the United States could prompt further significant inflows in the coming weeks as US investors begin to add positions. Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term saw outflows of US$1m last week. Despite this being the second week of outflows, these flows are not significant to define a trend at present. Other altcoins, such as Polkadot and Cardano saw continued inflows totaling US$3.6m and US$2.7m respectively,” the report added.

Cryptocurrency assets now have a market cap of more than $2.5 trillion.