Cryptocurrency investment products and funds recorded inflows for a seventh straight week, as institutional investors warmed to more supportive statements from regulators, data from digital asset manager CoinShares showed on Monday.
“For those of us working in the space, the fact that it’s too big to ignore is hardly news, and the regulators certainly aren’t ignoring it.”
Investment flows into the sector have been robust except for a few sluggish months in the summer.
“The banks are capitulating one by one,” said Martha Reyes, head of research at digital asset prime brokerage and exchange BEQUANT.
Specialist crypto tracker and research provider Coindesk released a review of the market showing a 25% gain for bitcoin and 32% gain for ether during the third quarter.
The report also cited the surge in non-fungible tokens (NFTs), which use blockchain to record the ownership of digital items such as images, videos, collectibles and even land in virtual worlds.
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