Institutional investors seem to be dipping their fingers in the crypto markets to enter with lower price levels, according to a new report. Some altcoin projects see fund outflows, while others experience fund inflows. As Kriptokoin.com, we have compiled the details for you, let’s examine the subject together…
CoinShares: Bitcoin experienced a fund inflow this week!
Digital asset manager CoinShares says investors are cautiously adding to their crypto portfolios. CoinShares adds the following to its explanations on the subject:
Digital asset investment products saw entries for a second week totaling $19 million last week, albeit small, continuing to show that investors are beginning to cautiously add to their positions at these low price levels.
Bitcoin (BTC), the largest cryptocurrency by market value, led the way with a total of $22 million in entries last week. This marks the second consecutive week of entry for Bitcoin. According to the firm, the leading smart contract platform Ethereum (ETH) has not been as successful as Bitcoin in the past two months. CoinShares adds the following to its explanations on the subject:
Ethereum continues to suffer from negative sentiment, with $27 million exits totaling $272 million for the 8th consecutive week.
While these 5 altcoin projects were exiting, these 2 saw fund inflows!
Multiple altcoin projects have experienced exits, while $32.1 million has been inflows into multi-asset investment products. CoinShares adds the following to its explanations on the subject:
Last week, Solana, Polkadot, and Cardano saw exits, showing that investors are avoiding altcoins. However, multi-asset funds (a coin combination) saw a total inflow of $32 million, the largest since June 2021, suggesting investors are adopting a diversified investment approach.
Source: CoinSharesSolana (SOL), Binance Coin, Polkadot (DOT), and Cardano (ADA) saw relatively small exits last week, totaling less than $10 million. Ripple and Litecoin, on the other hand, experienced small inflows on a weekly basis.
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