capital flows into funds and cryptocurrency products hit a record high of $ 4.2 billion for the first quarter of this year, according to data from the asset management firm CoinShares. Digital, reflecting the growing interest of institutional investors.
According to CNBcarabia, the data indicated the previous record level of flows to cryptocurrencies amounted to 3.9 billion dollars in the fourth quarter of last year, which brings total flows for the whole year of 2020 to 6.7 billion dollars.
Bitcoin, the world's largest cryptocurrency by market value, received the most inflows so far this year, amounting to $ 3.3 billion, while Ethereum came second with inflows of $ 731 million.
Bitcoin hit a record high of $ 61,781 last Saturday, but has since fallen as investors consolidate their gains and amid India’s plans to ban cryptocurrencies.
And the digital currency today recorded 55 thousand and 415 dollars.
CoinShares data showed that crypto assets under management also jumped to a peak of $ 55.8 billion, up from $ 47.6 billion last year.
