Want a sign that cryptomania has taken over? Just look at the amount of money invested in digital asset funds.
On Monday, European management company #CoinShares said assets under management in its crypto investment fund reached a new all-time high of $138 billion.
It reached a new peak after investors poured $2.2 billion into such funds last week, the report said.
Last week, inflows into digital assets reached $22.2 billion, leading to a record inflow of 33.5 billion yen year-to-date. Inflows into #Bitcoin and #Ethereum reached $148,000 and $64,600 respectively. Inflows into #Bitcoin short investment products totaled $4,900 million.
CoinShares tracks funds around the world that give investors access to digital coins and tokens, including Bitcoin, #Ethereum and Solana exchange-traded funds (ETFs) in Europe and Asia.
This recent surge in [investment] activity appears to be driven by a combination of loose monetary policy and the Republican Party's clean victory in the recent U. S. elections, the report said,
It adds that most of the money has been funneled into U. S. -listed spot ETFs, allowing sophisticated retail investors to gain exposure to bitcoin. The Securities and Exchange Commission (SEC), Wall Street's regulator, approved 1 of 11 new spot bitcoin ETFs in May.
The funds, managed by companies such as BlackRock, Fidelity and Grayscale, will allow investors, from large hedge funds to small cell phone players, to invest in cryptocurrencies in a simplified and regulated way.
After Donald Trump won the White House earlier this month, the price of bitcoin soared to a new high of more than $93,000 new dollars, in part because investors were buying U. S. ETFs.
According to a CoinShares report, interest in Ethereum, the second-largest digital asset, is also on the rise. Last week, investors made $ 66.4600 million by investing in ETFs.
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