Assets managed for corporate funds reached a record high of $ 59 billion. According to digital asset investment manager CoinShares, the first quarter of 2021 set a new record for institutional crypto product entries.
A new record
The first quarter of this year set a new record with an inflow of $ 4.5 billion compared to $ 3.9 billion in the last quarter of 2020, as reported in the April 6 CoinShares Fund Flows Weekly.
With institutional entries slowing, CoinShares believes this is not indicative of a wider slowdown trend, as quarterly growth rates tend to change.
Assets managed for both active and passive crypto investment products are at an all-time high of $ 59 billion. Grayscale accounts for the lion’s share with $ 46 billion. The second largest crypto asset fund is CoinShares itself, with $ 5 billion in assets under its management.
The European digital asset investment company expanded its corporate products this week with the introduction of a product traded on the stock exchange, including physically supported Litecoin. The new CoinShares investment product will initially be listed on Swiss regulated crypto exchange SIX Swiss Exchange.
Litecoin ETP was the third enterprise-level product that the firm launched in 2021.
CoinShares has partnered with Canadian mutual fund manager 3iQ to launch a Bitcoin exchange traded fund (ETF) in Canada.
3iQ launched Canada’s first institutional Bitcoin fund in April 2020 and currently has assets of $ 1.7 billion, according to the CoinShares report.