Notably, Institutional investment into crypto products continues increasing this year. More so, with inflows year-to-date hitting past the total inflows for 2020 of US$6.7 billion. Additionally, crypto assets under management (AuM) also hits a new all-time high of US$80 billion.
Furthermore, Bitcoin, the largest cryptocurrency by market value, boasts of the bigger part of investment inflows into crypto.
Notably, Bitcoin funds last week records inflows of more than US$90 million. Particularly, with inflows in the 8-week bull-run at US$2.8 billion and year-to-date inflows at a record US$6.4 billion.
On the other hand, Ethereum follows after Bitcoin’s lead, seeing inflows of US$31 million last week, with crypto AUM now at a record US$20 billion.
More so, Altcoins like Solana, Polkadot and Cardano also has inflows of US$9.6 million, US$8.5 million and US$5 million respectively.
Then, Tron, a blockchain-based decentralized platform on entertainment applications. Also, it has significant US$21.9 million inflows, with its AUM over the last seven weeks to US$79 million. Of course, this makes it the eight-largest by AUM, according to CoinShares.
Lastly, The total cryptocurrency market cap hits past the US$3 trillion mark with Bitcoin surging to a new all-time high of $68,564, according to CoinGecko data.
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