According to digital asset investment manager CoinShares, the first quarter of 2021 has hit a new record for institutional crypto product inflows.
As reported in the April 6 CoinShares Fund Flows Weekly bulletin, Q1 of this year hit a new record with $4.5 billion in inflows compared with $3.9 billion in the final quarter of 2020.
It added that inflows for the past week recorded, ending on April 2, totaled $106 million helping push the total for the three-month period 11% higher than the previous quarter. The inflow was down on previous weeks, however, as the week ending Mar. 12 recorded a $242 million inflow.
While institutional inflows have slowed, CoinShares believes it is not indicative of a broader slowing trend as quarterly growth rates tend to be varied.
Inflows for the past week have been dominated by $83 million in Bitcoin products, or 78% of the total, and $20 million in Ethereum. Overall volumes for Bitcoin investment products comprise a relatively small