Institutional Crypto Holdings Hit Two-Year High: CoinShares

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Institutional investors now hold $59B worth of digital assets, the highest level since February 2022.

Major financial institutions are ramping up their crypto exposure, currently holding $59B in assets under management (AUM), according to CoinShares’ latest Digital Asset Fund Flows Weekly Report.

The $60B mark has not been seen since the last week of February 2022, when institutions held $60.9B.

“From all the conversations we have had with many clients, they are buying for diversification and enhancing risk-adjusted returns in portfolios,” said James Butterfill, head of research for CoinShares.

Inflows topped $1.1B over the past seven days, with Bitcoin comprising 98% of total flows. BTC briefly topped $50,000 today for the first time since December 2021, a 16% increase on the week.