NEW DELHI: Total assets under management (AUM) of global digital assets hit the $50 billion level last week, the highest since mid-May, as crypto prices made a sharp recovery. However, despite bullish moves, crypto digital assets logged a fifth straight week of outflows totalling $26 million, according to digital asset manager CoinShares. “Ethereum market share is again rapidly rising and now represents 26% of investment products, compared to just 11% at the beginning of 2021. Despite the positive price movements, bitcoin continued to bear the brunt of the outflows, totalling $33 million last week," CoinShares said in a note. Multi-asset investment products comprise bitcoin, ether and other digital assets.

Source: Mint August 10, 2021 08:13 UTC