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Global crypto-themed funds witnessed record net inflows of $9.3 billion in 2021, a 36% increase over 2020 as institutional adoption grew in a breakout year for crypto assets, said digital asset manager CoinShares in a report.

It said the total number of crypto assets or coins in investment product form expanded from nine to 15 during the year. Additionally, 37 investment products were launched in 2021 versus 24 in 2020, making a total of 132 products, indicative of the demand and popularity of digital assets.

“While the increase from 2019 to 2020 was significantly higher at 806%, we believe this represents a maturing industry, with total assets under management (AUM) ending the year at $62.5 billion in 2021 versus just $2.8 billion at the end of 2019," CoinShares said.

The total AUM of global crypto funds reached more than $70 billion in November 2021, when the bitcoin price was hovering around the $69,000 level. The price of the world’s biggest crypto asset has since slumped below the $50,000 mark, trading around the $46,500 zone currently.

The report added that bitcoin saw net inflows of $6.3 billion in 2021 versus $5.4 billion last year, an increase of 16%.

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