New York: Digital asset management firm CoinShares has provided latest data according to which investment flow of Bitcoin has hit $1.31 billion last week after a few weeks of small outflows into cryptocurrency funds and products.
As per latest data from asset manager CoinShares, the professional investors took advantage of the decline in bitcoin and other digital asset prices.
On January 22, total assets under management (AUM) in industry slipped to $29.7 billion from an all-time peak of $34.4 billion which was recorded on January 08.
The total AUM was just $2 billion at the end of the year 2019. Earlier on Friday, Bitcoin dropped to a low of $28,800 and it was last down by 0.5% at $32,124.
The acquired data showed that about 97% of inflows went to bitcoin in comparison to the data with Ethereum, the second largest cryptocurrency which posted inflows of $34 million last week.
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