The total value of crypto assets under management has reached a record $72 billion. In addition, investment management firm CoinShares reported that a further $80 million flowed into the crypto sector last week. Overall, this represents the largest amount of assets under management in crypto since May, when the total investment was $71.6 billion.
The primary reason for the AUM surge in value is the crypto market seeing positive price performance across the board. In addition, further breakdown of AUM allocation sees Grayscale at the helm with a massive $52.4 billion in AUM. CoinShares comes in second with just over $5 billion, while Bitwise rounds off with about $1.1 billion.
CoinShares believes that the value of AUM will rise even higher in the near future, pointing to the introduction of the first US futures-backed ETFs as the main reason. Investors are bound to enter the market and could potentially and significantly push inflows higher in no time.
BTC is at an all-time high now after riding a five-month rally since May. The leading digital currency finally breached the $65K threshold after flirting with that price level for a few consecutive days. Furthermore, as of press time, BTC is currently changing hands at around $66,644.
By comparison, the altcoins saw a second straight week of outflows.
Image Credits: Pixabay
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