NEW YORK (Reuters) – Investment flows in cryptocurrency products and funds hit a record $ 1.331 billion last week after a few weeks of small outflows as investors took advantage of falling prices bitcoins and other digital assets, according to the latest data this Monday from asset manager CoinShares.
The industry’s total assets under management (AUM) fell to $ 29.7 billion on January 22, from an all-time high of $ 34.4 billion on January 8. At the end of 2019, the total AUM was only $ 2 billion.
Grayscale, the world’s largest digital currency manager, posted assets under management of $ 24 billion last week, down from $ 28.2 billion on Jan. 8. billion on January 8th.
“We believe investors have been very price-conscious this year because of how quickly Bitcoin prices hit new highs,” said James Butterfill, CoinShares ’investment strategist.
“The recent weakness in prices, caused by recent comments from U.S. Treasury Secretary Janet Yellen, and unfounded concerns about double spending, now seem to have been a buying opportunity with tickets breaking everyone’s weekly tickets. the times, ”he added.
Bitcoin fell to a low of $ 28,800 on Friday, after climbing an all-time high of $ 42,000 on January 8th. It fell 0.5% for the last time, to $ 32,124.
About 97% of the entries went to Bitcoin, according to data, with Ethereum, the second largest cryptocurrency, which recorded $ 34 million in entries last week.
So far this year, volumes in bitcoins have been considerably higher, operating at an average of $ 12.3 billion a day, compared to $ 2.2 billion in 2020.
Glassnode, which provides information on blockchain data, said Monday in a report that Bitcoin’s realized net profit / loss (NUPL) was close to exceeding the “belief” range and moving to the range of euphoria.
Earlier, when NUPL entered that range, it set a world high on the price of Bitcoin.
Reports by Gertrude Chavez-Dreyfuss; Edited by Richard Chang