Leading cryptocurrency manager CoinShares said that BTC and altcoin investment products focused on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) rebounded massively last week, with inflows exceeding $190,000,000. So, what happened to the other coins that institutional money entered? Here is the review of CoinShares’ weekly report…
Institutional investors in Europe stand out
According to the latest CoinShares Digital Asset Fund Flows Weekly report, European markets have seen crypto investment products at their highest level since the end of last year. made it possible to see the entries. According to the statements in the report, digital asset investment products saw a total inflow of $ 193 million last week, providing the largest flow of funds since December 2021. Regionally, the majority of entries (76 percent) came from Europe with $147 million, according to the data. 45 million dollars of investment came from the USA.
In line with its market share, Bitcoin (BTC) enjoyed $98 million in inflows last week, reflecting investor sentiment most heavily. The second largest crypto by market cap, Ethereum (ETH) typically plays a large role in fund inflows and outflows, with its share of crypto market dominance.
Which altcoin projects were the focus of institutional investors?
Ethereum products received $10.2 million in investor inflows last week, while Solana (SOL), a smart contract platform, as we reported on Cryptokoin.com, far outperformed ETH, which exhibited the largest entry week on record. The following statements were made in the report:
Solana witnessed the largest one-week inflow on record totaling $87 million, representing 36 percent of assets under management (AUM). AUM currently stands at $241 million, making it the 5th largest investment product and single largest altcoin outside of Ethereum.
Meanwhile, multi-asset investment products that invest in multiple cryptos experienced only the second breakout in 2022 last week, losing $5.5 million. Investment products focusing on Cardano (ADA), Polkadot (DOT) and Cosmos (ATOM) altcoins have seen small inflows of $1.8 million, $1.2 million and $0.8 million respectively last week. It is seen that Ripple (XRP) has exited.
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