Institutional Investors Increased Investment in Cryptocurrency Funds

Get real time updates directly on you device, subscribe now.

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.

Source Link

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.