Crypto-asset investment products saw a total inflow of $109 million last week, and the flagship cryptocurrency bitcoinwas crypto with the lion’s share of these entries. As for altcoins, wither (LEFT) and Avalanche (AVAX) took the lead. Here are the details.
According to the latest report from CoinShares, Bitcoin-related investment products $89 million value, which is relatively low for the flagship cryptocurrency. The firm has calculated the total of BTC product entries over the past five weeks. $221 million He noted that this represents 0.7% of total assets under management.
The second largest cryptocurrency by market capitalization Ethereumseeing an exit valued at over $15 million, investors are told that Binance’s BNBProducts that offer the opportunity to invest in .
However wither based investment products saw $1.2 million in inflows. cardano and XRP investment products, on the other hand, have seen inflows of $3 million and $5 million, respectively, to date.
Multi-asset investment products that could represent a broader bet in the cryptocurrency market saw $9.4 million in inflows last week in particular, which has helped their total inflows reach $69 million since the start of the year.
Ethereum competitor Avalanche Last week saw $25 million worth of institutional inflows, but CoinShares noted that these happened in a single day, meaning it’s “too early to say whether this represents a broader appetite for the altcoin.”
Morgan Stanley’s wealth management global investment office published a report earlier this month on the second-largest cryptocurrency by market capitalization, confirming its market dominance. cardano (ISLAND), Tezos (XTZ) and wither He stated that he could lose to competitors such as (SOL).
Analysts at the investment bank say that due to the increased competition it faces, Ethereum poses a greater investment risk than Bitcoin, requiring fewer transactions per user to use BTC “similar to a decentralized savings account” and demand for ETH “more closely linked to transactions.” added.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.