Institutional appetite for cryptocurrencies has clearly increased, which is confirmed by data from CoinShares, which shows how institutional investors continue to allocate large amounts of money to buy cryptocurrencies.

Last week, nearly $430 million was entered into the cryptocurrency market, increasing the value of institutionally-managed cryptocurrencies to an all-time high of $15 billion.

Crypto market and institutional funds:

By citing data from “CoinShares,” the agency reported Reuters With a report on the significant growth of institutional funds entering the cryptocurrency arena in the past few months.

On a smaller scale, the week ending December 7th witnessed a new wave of institutional funds destined for the crypto market, which amounted to $429 million.

Read:Sirin Labs founder sued over debt default

The week of the beginning of December became the second best week after the record week recorded less than a month ago, in which the value of investment funds deposited in the crypto market reached 468 million dollars.

Grayscale, the world’s largest cryptocurrency manager, has the largest pie of 78% (or $336 million) of institutional funds destined for the crypto market.

Grayscale’s total cryptocurrency has grown to over $12 billion.

This is without counting the last estimated amount of $74 million invested in Ethereum:

Grayscale buys $74 million in Ethereum… Details here

It is somewhat expected that Bitcoin-focused funds have seen the largest share of this money.

On a weekly scale, these funds have attracted nearly $335 million.

Thus, the total amount of crypto market inflows has jumped to $4 billion since the start of 2020.

The start of institutional adoption:

The cryptocurrency community has pondered for years the idea of ​​whether institutional investors would start learning about and investing in bitcoin.

Although these were just speculations and predictions in the past.

The year 2020 turns out to be the first significant sign of the start of institutional adoption of cryptocurrencies.

Read:After the strange death of “John McAfee” … many questions arise about his death and the existence of several conspiracy theories!

CoinShares reports that the total cryptocurrency managed in the institutional sector has reached an all-time high of $15 billion.

Despite many big names entering the crypto space, James Butterville, an investment strategist for a cryptocurrency investment firm, believes the industry is on the cusp of institutional adoption.

On an anecdotal level and based on our customer conversations over the course of 2020, we’ve seen a decisive shift from inquiries about a speculative nature to those beginning with comments like: Bitcoin is here to stay, please help us understand it.

Read also:

The second richest man in Mexico invests 10% of his net worth in Bitcoin

To what extent is blockchain technology used by governments? How does this technology meet the needs of public institutions?