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In summary
- CoinShares reported a record $138 billion in assets under management in crypto funds.
- Bitcoin spot ETFs in the US received the majority of investments.
- Trump’s victory boosted Bitcoin to $93,000 and attracted $2.2 billion in funding.
Want a sign that the Cryptocurrency craze is back? You just have to look at the amount of money flowing into digital asset funds.
A report on Monday from European asset manager CoinShares said assets under management for cryptocurrency investment vehicles are now at a new all-time high of $138 billion.
The new peak comes after investors poured $2.2 billion into such funds last week, according to the report.
CoinShares follows funds around the world that provide investors with exposure to digital currencies 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 looser monetary policy and the complete victory of the Republican party in the recent US elections,” the report said.
He added that most of the money was focused on US-listed spot ETFs, giving sophisticated and retail investors exposure to Bitcoin.
Wall Street regulator the Securities and Exchange Commission (SEC) approved 11 new Bitcoin spot ETFs in January.
The funds—managed by companies such as BlackRock, Fidelity and Grayscale—give investors from major hedge funds to small investors on their phones the ability to invest in the cryptocurrency in a simplified and regulated way.
Following Donald Trump’s presidential victory this month, the price of Bitcoin has risen to new highs above $93,000, driven in part by investors buying into US ETFs.
The CoinShares report added that excitement around Ethereum, the second-largest digital asset, also increased, with $646 million flowing into the products, giving investors exposure to the currency last week.
Since the Republican presidential victory on November 8, money has flowed into the crypto space. In the previous week, investors poured nearly $2 billion into cryptocurrency funds. Trump, the president-elect, has promised to help the digital asset industry, making several promises during his election campaign.
Edited by Andrew Hayward
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