Institutional investors were unfazed by the recent correction in the cryptocurrency markets, as digital asset funds defended to Bitcoin (BTC) and Ether (ETH) connected to grow, according to data from CoinShares.

Crypto investment products, which include exchange-traded funds (ETFs), saw weekly inflows totaling $154 million for the week catastrophe Nov. 20, co-ordinate to CoinShares' latest fund flows report. Like in previous weeks, Bitcoin investment products attracted about of the inflows at $114.iv meg. Funds devoted to Ether saw weekly inflows of $12.6 million and multi-asset products registered $14.1 meg in net investments.

Twelvemonth-to-appointment, institutional investors have allocated over $6.6 billion to Bitcoin products, $one.17 billion to Ether products and more than than $9.2 billion to crypto as a whole.

Grayscale, which is the largest crypto asset manager, recorded $51.9 billion in avails under direction equally of Nov. xix.

Oct was a record-breaking month for Bitcoin funds, thank you in role to the approval of two futures-linked ETFs in the United States. Institutional managers bought $2 billion worth of Bitcoin funds over the form of the calendar month equally the BTC toll reached new all-time highs.

Although November has been less bullish for Bitcoin from a price perspective, the latest funds flows data suggests that investors are non concerned by the market correction. As Cointelegraph reported, Bitcoin touched a low of effectually $56,500 on Nov. 20 before correcting higher. The flagship cryptocurrency remains vulnerable to some other pullback in the short term equally its price consolidates beneath $58,000.

Related: $60K becomes resistance — 5 things to watch in Bitcoin this week

According to a contempo tweet from crypto analyst TechDev, the 2022 balderdash market place has been lagging the 2022 cycle by five-to-8 days equally of July. If the trend continues, Bitcoin and the broader marketplace could be poised for a breakout college in the medium term.