Assets in cryptocurrency funds have reached an all-time-high of $55.8 billion thanks to record inflows in the first quarter.
The latest report from digital asset manager CoinShares shows that global inflows into funds that invest in cryptocurrencies such as bitcoin have already reached $4.2 billion since the start of the year, exceeding the $3.9 billion of inflows in the previous quarter.
Five digital asset managers now have more than $1 billion in assets under management, although the vast majority ($43.726 billion) continues to be held by the US-based Grayscale. The remaining four firms are CoinShares, 3iQ, ETC Issuance and 21Shares.
While bitcoin remains the most popular cryptocurrency, ethereum is proving increasingly popular, accounting for nearly 50% ($113 million) of last week’s $242 million of inflows.
Coinshares’ data also shows that investors overwhelmingly favour passive rather than active investment in digital funds – $54.1 billion compared to $786 million in AuM.
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