Institutional investors invested significant amounts in SOL and ADA funds, but withdrew funds from BTC, according to a report from cryptoasset management company CoinShares, during the week of August 16-22.
The price of the Solana project coin (SOL) has grown from $ 35.5 to $ 75 since the beginning of August. Institutional investors seem to expect this cryptocurrency to continue to grow, as $ 7.1 million was invested in SOL investment products. This is one third of the total inflow of funds to such funds. Moreover, the total amount of funds invested in investment products at SOL is $ 11 million.
According to the CoinShares report, there is also a noticeable inflow of funds into funds on Cardano (ADA) – $ 6.4 million.However, the total inflow of funds into investment products for this cryptocurrency is 68 million.
Institutional investors continue to withdraw funds from funds in Bitcoin. Over the past week, such products lost $ 2.8 million, and during the month $ 57.5 million were withdrawn from them. Funds for other cryptocurrencies, as well as multi-asset funds, recorded a positive balance at the end of the week.
The total investment of institutional investors in cryptocurrency funds is $ 57.3 billion, of which $ 42.6 billion is managed by Grayscale.
Note that institutional investors can also invest directly in cryptocurrency companies. For example, the largest asset management company BlackRock recently bought shares of North American mining firms for $ 383 million.
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