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In 2021, venture capital funds will have invested a total of $17 billion in cryptocurrency.

Venture capital funds have already surpassed $17 billion in 2021, creating a new annual record in the crypto market.

Firms have been highly active in terms of their investments into the crypto sector, according to market research provider PitchBook.

Already, an estimated $17 billion has been invested in 2021. While the previous yearly high was $7.4 billion in 2018, this year's total is expected to be far higher. From 2010 through 2021, 2021 has essentially brought in the same amount of investment as all preceding years combined.

Crypto deals in 2021

Block's largest acquisition in 2021 was worth a whopping $10 billion.

Bullish Global, a cryptocurrency exchange, was one of the investments made. In a separate investment round, the exchange raised an extra $300 million.

On its alone, the single transaction shattered the year's record for crypto investments.

A crypto wallet business has received $380 million in funding. In 2021, according to Ledger, the corporation will make its second largest investment. 10T Holdings, a mid-to-late-stage growth equity fund that invests in private enterprises in the digital asset ecosystem, made the investment.

“I believe that everyone will own crypto; the only question is at what price,” said Ian Rogers, Ledger's chief experience officer. “We're still in the protocol phase; we know there's something here, but we have no idea what it will look like.” For Ledger, we're still not at the point where we're selling iPods at Target.”

BlockFi and Dapper Labs both received $350 million, while Paxos and Blockchain.com each received $300 million.

Thirst for crypto exposure continues

Companies looking to gain exposure to the crypto sector have noticed an increase in interest in 2021. Following the great success of its investment in Coinbase, Andreessen Horowitz said it will be launching a $1 billion crypto investment fund.

Galaxy Digital also took measures to buy BitGo, an independent digital asset infrastructure provider, early this year. The purchase is estimated to be worth $1.2 billion. In addition, Goldman Sachs recently announced a collaboration with Galaxy Digital to enable bitcoin futures trading through the firm's latest acquisition.