James Butterfill, Investment Strategist at London-based CoinShares, a digital asset manager focused on expanding access to the cryptocurrency ecosystem while serving as a “trusted partner” for its clients, notes in a blog post published on Monday (November 15) that for the week ending November 12, 2021, Bitcoin (BTC) inflows continue to dominate inflows with $97 million this last week.
As noted in the weekly report from CoinShares, digital asset investment products saw inflows totaling $151 million this past week, which is “the 13th consecutive week of inflows, bringing year-to-date inflows to a record $9 billion.”
The update also mentioned that Bitcoin or BTC “saw the majority of inflows totaling $98 million, pushing AuM to a record $56 billion.” Meanwhile, altcoin inflows were led by Cardano (ADA) with inflows totaling $16 million this past week “although we cannot identify a discernible catalyst at this point.”
Although flows have been positive recently, CoinShares reports that they have “witnessed subdued volumes in 2H, averaging $750 million daily versus $960 million in 1H 2021.”
As mentioned in the update, intra-week prices rises also “saw total assets under management (AuM) reach record highs of nearly $87 billion, but closing the week at $83 billion.”
Bitcoin saw the majority of inflows totaling $98 million, the CoinShares report revealed while adding that this sent AuM to “a record $56 billion, with inflows of $6.5 billion this year.” This is “despite its dominance (relative performance) versus altcoins waning over the week,” the report added.
Ethereum (ETH) also saw “continued inflows totaling $17 million with total AuM pushing past $21 billion for the first time,” the update noted.
Altcoin inflows were led by Cardano with inflows “totaling US$16m last week although we cannot identify a discernible catalyst at this point.” The inflows are “likely being due to increasing positive investor sentiment for ‘World computer’ coins,” the report added.
As stated in the CoinShares report, Solana (SOL), Polkadot (DOT) and XRP also “saw inflows totaling $9.8 million, $5.2 million and $3.1 million respectively.”
Although flows have been positive recently, CoinShares notes that they have “witnessed subdued volumes in 2H, averaging $750 million daily versus US$960m in 1H 2021.”
As reported last month, CoinShares International Limited (Nasdaq First North Growth Market: CS) is pleased to confirm a strategic investment of $11,845,790 in FlowBank, an online bank based in Geneva, Switzerland.
Following the investment, CoinShares “holds 110,000 shares in FlowBank, representing 9.02% of its enlarged share capital,” according to a release.
Established by Charles-Henri Sabet last year, and licensed by the Swiss Financial Market Supervisory Authority (FINMA) and a member of esisuisse, FlowBank aims to make investing accessible “to everyone.” It does so via an “intuitively-designed investing platforms, educational trading courses led by seasoned experts, and by offering highly competitive pricing.”
Today, over 50,000 financial products including stocks, bonds, commodities, ETFs, Forex, CFDs, and more are “available to FlowBank’s clients, allowing both private and institutional clients to invest in a wide range of asset classes on its FlowBank and FlowBank Pro platforms.” Additionally, with FlowBank’s upcoming launch of MetaTrader 4 (MT4), clients may further improve their Forex trading experience.