Cryptocurrencies Post Inflows In Latest Week, Led By Bitcoin: Report

Cryptocurrency products and funds posted inflows in the latest week, with investors undeterred by the latest price corrections, weekly data from digital asset manager CoinShares showed on Monday.

New York: Cryptocurrency products and funds posted inflows in the latest week, with investors undeterred by the latest price corrections, weekly data from digital asset manager CoinShares showed on Monday.

Institutional investors poured in $154 million in the crypto sector in the week ended November 19, with a year-to-date total of $9.2 billion, already exceeding total inflows of $6.7 billion in 2020.

Bitcoin got the lion's share of inflows with $114.4 million, equivalent to 74% of the total. So far this year, total inflows into bitcoin products and funds hit $6.7 billion.

The inflows came despite a 10.4% drop in bitcoin last week. On Monday, bitcoin was down 4.5% at $56,042. The world's largest cryptocurrency hit a record high of $69,000 on Nov. 10.