In the first half of 2023, CoinShares, a digital asset management company, saw a rise in institutional interest in the digital currency market.
Despite the market’s stagnant state in the middle of the year, American investment funds are seeking ways to enter the industry.
The application from BlackRock to launch an exchange-traded crypto fund ETF that invests in Bitcoin has been a key factor in the increase of large capital investments.
According to a recent report by CoinShares, institutions have invested a total of $1.14 billion into crypto funds since January 2023, marking one of the biggest inflows of capital into digital assets.
In the last seven days alone, around $293 million was put into cryptocurrency-focused products.
Ether (ETH) and Solana (SOL) funds received investments of $49 million and $12 million, respectively. Institutions also allocated $0.3 million, $0.8 million and $3.1 million to funds focused on Litecoin (LTC), Cardano (ADA), and XRP, as highlighted by the report’s authors.
