Canadian and Swiss Investors Put $16M into Crypto-centered Funds: Report

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According to a recent report from CoinShares, institutional investors invested a total of $1.14 billion into crypto funds in 2023.

The report also highlighted the notable interest from American institutions in entering the cryptocurrency market, despite the lack of regulatory framework.

After 11 consecutive weeks of growth, there was a slight outflow of funds from crypto funds, which coincided with the autumn surge of Bitcoin and other virtual currencies.

Last week, there was a net outflow of $16 million, primarily driven by American and German institutional investors.

However, Canadian and Swiss investment companies still showed interest, investing $9.1 million and $6.9 million respectively.

The majority of funds were invested in BTC, with $32.8 million being allocated to track its performance.