By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) – Cryptocurrency products and funds posted record inflows in the first 11 months of the year, as institutional investors flocked into the space despite price declines in the last few weeks, data from digital asset manager CoinShares showed on Monday.
Total inflows into the sector were $9.5 billion as of Nov. 26, an all-time high. In 2020, total bitcoin inflows were $6.7 billion.
On the week, inflows reached $306 million.
Bitcoin saw its largest inflows in five weeks totaling $247 million, CoinShares data showed, following the launch of another investment product in Europe.
Invesco has launched a bitcoin exchange-traded product in Europe, media reports said. CoinDesk meanwhile reported that …
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