Want a sign that crypto mania has taken over? Just look at the amount of money flowing into digital asset funds. 

A Monday report from European asset manager CoinShares said that assets under management for crypto investment vehicles are now at a new all-time high of $138 billion.

The new peak mark comes after investors threw $2.2 billion at such funds last week, the report said. 

CoinShares tracks funds around the world that give investors exposure to digital coins and tokens, including Bitcoin, Ethereum, and Solana exchange-traded funds (ETFs) in Europe and Asia. 

“This recent surge in [investing] activity appears to be driven by a combination of looser monetary policy and the Republican party’s clean sweep in the recent U.S. elections,” the report said. 

It added that most of the money was focused on U.S.-listed spot ETFs, giving sophisticated and retail investors exposure to Bitcoin.

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Author: Mathew Di Salvo