Over the past week, institutional investors have significantly increased their investments in cryptocurrencies. The inflow of funds amounted to $ 98 million, and this is the highest figure in the last 4 months.
According to CoinShares, $ 59 million of funds invested by institutional investors in bitcoin trusts went away. Accordingly, the remaining $ 38.9 million was invested in investment products for altcoins, which is 35% of the total inflow of funds, and this is a record figure.
Ether is the leader among altcoins – trusts for the second cryptocurrency raised $ 14.4 million. The indicator decreased by 16.2% compared to the previous week.
A significant increase in investments was recorded in products for the Solana cryptocurrency – the growth was 338%, and the amount reached $ 13.2 million. However, this is not surprising, because the SOL coin has increased in price several times in recent weeks. Since the beginning of the year, they have invested $ 25 million in such products.
The third most popular cryptocurrency was Cardano – investment products on the ADA coin attracted $ 6.5 million.
Two companies reported negative outflow of funds – CoinShares and Purpose. The leader in attracting investments was the ETC Group, in whose products $ 69.7 million was invested. The volume of assets under the management of the market leader Grayscale remained unchanged.
Earlier, JPMorgan analysts said that the outstripping growth in the altcoin rate signals a possible bubble in the cryptocurrency market.