INSUBCONTINENT EXCLUSIVE:
Cryptocurrency products and funds had record inflows last week to the tune of $1.5 billionCryptocurrency products and funds had record
inflows last week to the tune of $1.5 billion, their 10th straight week of investments, as optimism soared with the trading of bitcoin
exchange traded funds, a report from digital asset manager CoinShares showed on Monday.Inflows so far this year hit $8 billion, far
management also hit a new record of $79.2 billion, although it ended the week at $76.7 billion
The bulk of inflows for the sixth straight week went to Bitcoin, with $1.45 billion, data showed.Inflows to the world's largest
cryptocurrency year-to-date amounted to $6.1 billion
The ProShares Bitcoin Strategy ETF and the Valkyrie Bitcoin Strategy ETF debuted last week, a defining moment for the crypto industry that
is expected to lure more inflows from big institutional investors
how far we've come and the capacity bitcoin has to upend the financial system and create a global economy, linking the developed and
emerging markets like never before," said Ray Youssef, co-founder and chief executive officer of Paxful, a global peer-to-peer fintech
platform."While this recent price rally can be attributed to movements like the approval of the first bitcoin ETF for institutional
investors, we can't ignore the impact of significant development and adoption in emerging markets," he added.Ethereum, meanwhile, saw
outflows for a third consecutive week totaling $1.4 millionCoinShares believed that the outflows were due to minor profit-taking as the
price approaches record highs.Ether, the currency for the Ethereum blockchain, last exchanged hands at $4,224.30, up 3.5 per cent.Other
Assets under management at Grayscale and Coinshares, the two largest digital asset managers, climbed last week to $54.6 billion and $5.2
