Crypto Funds See Near Record Inflows as Capital Floods Out of Gold
Smart people know where to put their hard-earned money – why buy or hold gold when there’s Bitcoin and a host of cryptocurrencies out there?
Crypto funds see near-record inflows as capital floods out of gold
“A new report from market data aggregator CoinShares has revealed recent surging crypto inflows amid record gold outflows.
The report, published Dec. 7, notes that gold investment products have seen record outflows of $9.2 billion over the past four weeks, while BTC products saw inflows of $1.4 billion.
The combined crypto fund sector saw record inflows of $429 million over the past two weeks, with Ethereum funds attracting significant investment following the completion of Eth2’s Phase 0 with the launch of the Beacon Chain on Dec. 1.
Despite representing 14% of the capital locked in crypto investment products, 20% or $87 million of the past week’s capital flows were invested into funds offering exposure to Ethereum.
The report estimates that a total of $14.9 billion is currently being managed across crypto investment products, of which Grayscale Investments represents more than 83%.”