29 Mar 2022
Institutional Crypto Investments Reach Highest Levels in Three Months
The Index Today
Institutional investors accounted for some of the largest investments in cryptocurrencies in the past three months, as per CoinShares data.
Cointelegraph reported that the Digital Asset Fund Flows Weekly Report showed a whopping $193 trillion worth of cash inflows the previous week sparked by a marked rise in digital asset investments, reaching the highest levels since December, 2021.
Bitcoin accounted for a majority of investor interests with more than 50% of investments amounting to a total of $98 million being made in Bitcoin-based products. Solana, which comprised the second largest cash influx worth $87 million, is regarded as the “largest single week of inflows on record” by CoinShares.
According to Cointelegraph, Europe emerged as a prominent investor with 76% of investments worth nearly $147 million were made in digital assets last week, likely spurred by the proof-of-work (POW) mining ban which failed to pass.