The amount of crypto assets held by institutional investors has risen for the fifth week in a row, revealing that market participants are again expecting an increase in the price of Bitcoin (BTC) and major altcoins.
A total of $ 42 million was invested in crypto products in the week ending September 19. According to CoinShares, the amount invested in Bitcoin funds measures $ 15 million. Last week marked the third week that BTC products have seen investment growth in the past 16 weeks.
All the major crypto products have seen an increase in value over the last week. $ 6.6 million were invested in Ether (ETH) products and $ 3.7 million in multi-asset funds. Investors also invested $ 4.8 million in Solana (SOL), which suffered a service outage last week.
The company that received the largest investment was 21Shares with $ 28 million. The value of the assets under management of the provider of publicly traded products with physical backing had risen to $ 1.87 billion as of last week. The company with the highest value of assets under management among crypto asset managers remains Grayscale at $ 43.177 billion.
Fund managers accelerated the purchase with the recovery in the cryptocurrency market that began in late July. The crypto market value peaked at $ 2.2 trillion last week, after falling to $ 1.2 trillion in mid-July. However, the cryptocurrency market was rocked by the Evergrande incident on Monday and suffered a serious loss of value.
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