Institutional managers bought the dip despite crash fear
Records showed that institutional managers bought more and more in the crash besides the fear of more market crashes.
After the approval of the $1 trillion infrastructure bill of the US by US president Joe Biden, the crypto market is facing huge volatility. And all this is a part of the fear that US government authorities are trying to pressurize the crypto market indirectly and this is creating the next level of fear. However, leading lawmakers and players ensured that US lawmakers will fix the mistakes from the infrastructure bill of the US.
In this situation, the crypto market is facing a huge struggle to move forward to go with the bull run. But still, a big inflow of funds can be seen in the crypto market because of the interest of the Institutional managers.
According to the data available by CoinShares, the last week ended with the $154 million inflow in the crypto investment-based products including Bitcoin Exchange Traded Fund products, on 20 November.
According to the reports, Bitcoin grabbed more inflow over the Ethereum based products. The Bitcoin investment product saw $114 million and Ethereum saw $12.6 million inflow. However, investment in Bitcoin over Ethereum remains high.
If we talk about the other multi crypto-assets investment products then there is a total of $14.1 million funds inflow.
Now, year-to-date, the total fund locked in the Bitcoin-based investment products is $6.6 billion, in Ethereum is $1.17billion, and in $9.2 or more in another crypto.
On 19 November, Grayscale fund manager firm had locked around $51.9 billion under management.
This inflow of huge funds in the crypto Investment products is a sign of the pleasant ecosystem in the US. Because recently the US Securities and Exchange Commission (SEC) agency approved two Bitcoin futures ETF products. In October, the inflow of the financial institutions in the Bitcoin exchange-traded fund exploded at a very record all-time high.