Institutional investors poured $ 226 million into cryptocurrency products from October 4 to October 8, according to CoinShares, more than double the inflow of funds in the previous week.
Last week was the most successful in five months, according to a report by CoinShares analysts. At the same time, the lion’s share of attention was attracted by investment instruments for bitcoin – the inflow of funds into such products amounted to $ 225 million. But the products on the air showed a noticeable outflow of funds – $ 13.6 million was withdrawn.
Among altcoins, the leader in attracting investments was the SOL coin trusts – $ 12.5 million was invested in such products, and this is more than 10% of the total funds in such funds. Also, a positive balance was recorded in products on ADA and BCH – $ 3.0 million and $ 0.3 million, respectively. But the funds for DOT, LTC and XRP coins have lost some weight. The leader in terms of the outflow of funds was the products for the Polkadot cryptocurrency, from where $ 2.1 million were withdrawn.Trusts on several assets showed an inflow of funds in the amount of $ 2 million.
As for the companies, most of the funds were attracted by the ETC Group funds, where $ 165.1 million was invested. Note that this is about 12% of the total assets under the management of this company. CoinShares Physical products were also popular, which raised $ 54.7 million.
At the moment, $ 45.7 billion has been invested in Bitcoin products, and $ 16.08 billion in instruments for ether. The total investment is $ 66.7 billion. The market leader is still Grayscale, which manages assets for $ 48.4 billion.
Earlier, JPMorgan analysts noted that institutional investors are investing in bitcoin to protect against inflation. The first cryptocurrency for such investors is becoming even more interesting than investing in gold.
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