By Gertrude Chavez-Dreyfuss

NEW YORK, (Reuters) – Cryptocurrency funds and products posted inflows during the week to the last week. Investors were not affected by recent price corrections as the weekly data of digital asset manager CoinShares revealed on Monday.

The week ended Nov. 19 saw $154 Million in crypto-related investments from institutional investors. With a cumulative total for 2019 of $9.2Billion, this is already more than the total 2020 inflows.

With $114.4 million inflows, 74% of all total inflows, the largest portion of bitcoin products received the most. The total amount of inflows to bitcoin funds and products has reached $6.7 billion so far this year.

Even though bitcoin dropped 10.4% last week, the inflows continued. The bitcoin price was $56,042. November 10th saw the record-breaking $69,000 mark for bitcoin, making it the largest cryptocurrency in the world.

Edward Moya (senior market analyst, OANDA New York) stated that “Bitcoin was ready for a pullback”

According to Glassnode’s latest research report, Monday saw the announcement that bitcoin owners took profit after hitting a new record earlier in this month.

Spikes in on chain profit-taking under bullish impulses should be expected when price rises to new heights. They are common for bull markets. Glassnode stated that as profits are realized, the likelihood of creating a macrotop increases.

Inflows reached $12.6 million for the fourth consecutive week. The total inflows over the past four weeks was approximately $80 million.

However, some altcoins experienced minor outflows.

However, inflows to a public blockchain totaled $8million. Solana, which measures total inflows in the month of April 2017, has received inflows in the region of $43 million compared with Cardano’s $23 millions.

Grayscale’s assets were $51.62billion and CoinShares was $6.5billion, respectively.