In brief
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$117,331.00
-0.18%$2,940.94
-0.51%$2.73
0.23%$685.73
-0.73%$160.59
-1.38%$0.999902
-0.01%$0.19722
-1.89%$0.302398
0.29%$2,938.69
-0.53%$0.70777
-0.13%$47.09
1.86%$117,177.00
-0.09%$0.39467
11.19%$3,549.99
-0.51%$3.40
0.26%$15.08
-1.05%$506.16
-4.50%$20.75
0.50%$9.09
0.52%$0.196817
2.17%$3,151.50
-0.50%$0.00001316
-0.45%$2.99
1.24%$2,940.45
-0.55%$0.999673
-0.03%$92.66
-1.53%$46.05
-1.47%$1.001
0.13%$333.02
0.36%$117,349.00
-0.20%$3.88
-0.65%$1.00
0.02%$0.00001222
-1.22%$4.37
-3.13%$8.37
-4.11%$301.13
1.47%$383.75
-2.19%$0.462349
-1.36%$4.80
-1.31%$0.100835
-5.65%$1.18
-0.00%$2.48
-0.85%$48.57
-0.40%$5.35
0.41%$1.00
0.00%$195.09
-1.32%$18.14
-0.59%$0.874006
-0.77%$0.084511
-1.16%$0.999819
0.01%$0.651202
6.27%$4.58
-0.94%$1.059
0.00%$0.32177
-3.76%$0.225573
-1.41%$0.02360585
-1.38%$0.399074
-1.30%$4.49
0.87%$0.00002501
12.00%$9.58
-3.23%$16.02
-2.05%$0.21927
1.11%$3.60
-0.82%$0.688519
-3.51%$0.320528
-3.39%$2,943.98
-0.30%$1.029
-0.73%$2.53
-0.95%$117,199.00
-0.17%$0.078331
-0.92%$111.74
-0.13%$4.70
-0.54%$170.33
-1.42%$1.00
0.01%$0.02308261
-3.11%$0.998333
0.10%$11.36
-0.94%$1.53
-5.42%$0.473088
-2.50%$3,082.17
-0.53%$3,351.60
-0.50%$1.00
-0.00%$1.86
-3.21%$1.27
-0.12%$4.36
-3.08%$1.24
-3.27%$12.27
-0.36%$0.01663155
-0.96%$0.744286
0.53%$0.070251
-3.38%$0.647032
-1.34%$0.34827
-2.47%$1.70
-0.73%$3,142.90
-1.10%$3,089.50
-0.54%$1.00
-0.02%$1.00
0.10%$3,099.28
-0.50%$117,200.00
-0.09%$0.954515
-0.52%$0.095662
-0.22%$116,991.00
-0.21%$1.11
0.01%$0.504438
1.82%$3,352.43
0.10%$0.0000971
1.76%$11.58
1.65%$686.26
-0.56%$0.579301
-29.13%$0.155676
0.15%$118,010.00
-0.37%$3,178.46
-0.52%$0.99969
0.01%$0.615373
-2.05%$180.32
-1.37%$0.528325
-1.75%$3,354.63
0.12%$2.34
-5.29%$209.82
-1.29%$0.783724
-0.26%$0.01665881
-1.82%$0.187134
0.03%$10.74
0.00%$0.806598
-3.47%$21.52
-0.99%$111.77
0.00%$2.64
-2.02%$0.286133
0.30%$0.01438627
-0.47%$42.36
1.02%$0.998015
-0.03%$0.00000068
0.50%$0.116203
1.22%$0.00000169
4.12%$0.252549
2.68%$2,941.58
-0.46%$0.775145
-1.64%$1.89
-2.68%$47.13
2.15%$0.620382
3.79%$3,142.11
-0.94%$1.093
-0.01%$3.85
-2.31%$116,968.00
0.12%$3,061.37
-0.79%$116,911.00
-0.27%$2,942.16
-0.46%$0.376968
0.72%$0.999515
0.01%$0.00876107
-3.44%$0.997758
-0.03%$0.304483
0.47%$3.06
5.70%$0.01634551
-1.44%$117,292.00
-0.08%$0.395564
-1.92%$0.5404
-1.16%$0.054589
-3.20%$47.12
2.07%$0.536318
-5.66%$0.495193
-7.22%$1.66
-1.66%$1.48
-1.98%$26.07
0.12%$1.00
0.02%$0.644867
-3.20%$2,940.55
-0.55%$0.197623
-1.34%$1.00
-0.03%$0.999315
0.04%$0.096338
-4.51%$0.135714
-4.66%$0.223661
0.45%$0.426612
2.78%$3,130.18
-0.46%$0.598246
-1.46%$0.062993
1.36%$0.00768144
-2.67%$0.999902
-0.01%$0.0044694
-2.51%$0.00000045
0.28%$46.35
-0.75%$6.16
0.27%$7.58
-0.23%$15.21
0.50%$0.3089
7.63%$3,246.56
-0.48%$1.12
-0.90%$0.00002082
0.65%$1.094
-0.01%$0.164245
-1.42%$0.345462
-2.44%$1.008
0.10%$0.00446487
0.01%$1.30
-3.29%$2.45
0.20%$117,031.00
-0.19%$6.16
-1.06%$1.44
20.83%$0.152246
0.64%$0.999611
0.01%$3,219.26
-0.52%$0.053872
-4.02%$0.0396642
-0.23%$0.527609
-1.63%$2,937.40
-0.52%$1.55
-3.35%$0.999984
0.00%$2,942.94
-0.45%$0.03650759
0.67%$0.0187069
2.13%$2,936.86
-0.52%$117,207.00
-0.05%$0.999636
-0.02%$0.00672519
-0.87%$0.075331
-1.95%$0.358247
-0.55%$0.346576
-3.78%$21.12
0.62%$175.41
-1.44%$0.00006207
-0.63%$0.514509
-1.44%$0.74751
2.50%$126.94
0.05%$0.096342
30.17%$11.33
0.42%$3,549.65
-0.70%$0.817706
-5.77%$0.225657
-1.38%$1.11
-4.51%$25.21
0.46%$0.999393
-0.00%$1.001
0.22%$0.00370605
-0.62%$0.999188
-0.04%$0.744231
-0.81%$20.78
0.70%$0.664891
2.60%$0.02840437
-3.30%$1.00
-0.02%$117,494.00
0.13%$1.02
-0.02%$2,356.20
-0.19%$3,085.29
-0.53%$0.00331961
-6.36%$0.469864
2.93%$0.0041313
-3.27%$16.83
1.34%Reading
Bitcoin and other cryptocurrency funds just had a record-setting week, according to data from asset management firm Coinshares.
In a weekly report, Coinshares takes stock of its performance against other crypto investment firms (like Grayscale, 3iQ, and 21Shares) by looking at how much money customers are pouring into funds. This past week, inflows across all funds tracked by the report reached $1.3 billion—a new weekly high.
Grayscale remains the top dog in crypto investment products, with over $26 billion in assets under management (AUM). About $21.6 billion of that is in the Grayscale Bitcoin Trust (GBTC)—a kind of investment vehicle that provides exposure to Bitcoin for investors looking to avoid the hassle of trading and custody.
Coinshares chalked up last week’s inflows to the performance of Bitcoin over the past few months; 97% of the $1.3 billion was in Bitcoin-related investment products.
But the report also suggests that investment products and funds represent a small fraction of the total Bitcoin trading volume:
“Despite the record inflows, investment products have not tested the liquidity of the underlying Bitcoin, with investment products representing only 6.5% of total Bitcoin trading turnover. So far this year volumes in Bitcoin have been considerably higher, trading an average of $12.3 billion a day compared to $2.2 billion in 2020.”
Part of the reason more people are trading Bitcoin this year has to do with the price. After setting a new all-time high of over $41,000 earlier this month, it’s settled down to around $32,000—at this this time last year, one Bitcoin was worth around $8,000.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Grayscale has challenged the U.S. Security and Exchange Commission’s move to pause the debut of its exchange-traded fund that holds Bitcoin, Ethereum, Solana, XRP, and Cardano, alleging its investors are “suffering harm” as a result of the hold-up. In a letter dated July 8, the asset manager urged the Securities Commission to allow its Digital Large Cap Fund to begin trading. Grayscale added that it may file a petition to force the regulator to allow its fund to begin trading as soon as possib...
SharpLink Gaming shares rose on Friday after the largest publicly traded Ethereum treasury firm said that it had acquired $30 million worth of Ethereum from the Ethereum Foundation. SharpLink’s stock was changing hands around $20 per share, a 71% gain over the past week, according to Yahoo Finance. The performance coincides with Ethereum’s climb above $3,000 for the first time in five months, a 17% gain, according to crypto data provider CoinGecko. The non-profit organization that funds research...
Stablecoin platform Agora has raised $50 million in a Series A round led by Paradigm, with additional backing from Dragonfly Capital, as it seeks to capitalize on growing interest in the potentially lucrative sector. The funding will support the expansion of Agora’s all-in-one system for issuing and managing stablecoins, as well as the introduction of its new white-labeled stablecoin product, the company announced Thursday. The raise comes as the U.S. Congress is considering stablecoin legislati...