In the cryptocurrency world, institutional investors’ altcoin investments attract a lot of attention. Frankly, their moves are guiding. On the other hand, their exit, especially from a cryptocurrency, can be surprising. We’re focusing on what institutional investors did last week. In this context, we look at the Coinshares report. Here are the details.
Important entries into Bitcoin and altcoin projects
Over the past four weeks, digital asset investment products have experienced steady inflows totaling $66 million. These ongoing inflows brought the total Assets Under Management (AuM) to approximately $33 billion. This marked an increase of 15% since the lowest levels recorded in early September. On the other hand, inflows reached levels not seen since mid-August. Entries especially for Bitcoin and altcoin projects attract attention.
These inflows are likely linked to the anticipation surrounding the potential launch of a spot Bitcoin ETF in the US. But it pales in comparison to the investment surge seen following BlackRock’s announcement in June. At the time, four consecutive weeks of inflows totaled a staggering $807 million. It is noteworthy that the entry into Bitcoin and altcoin projects this time is more measured. It shows that even after Grayscale and the SEC court decision supporting the first, investors may be approaching the situation cautiously.
What do recent entries mean?
A significant portion of recent entries, approximately 84%, are to Bitcoin investment products. Accordingly, it has contributed a total of 315 million dollars since the beginning of the year. Interestingly, there was a temporary increase of $23 million in inflows for short-focused Bitcoin positions at the beginning of the week. However, it is noteworthy that these positions decreased significantly at the end of the week. On the other hand, net inflows were seen to be only 1.7 million dollars. Accordingly, this situation shows that confidence among short sellers has decreased.
Altcoin Ethereum continues to be a matter of concern for investors. Accordingly, it led to a further outflow of $7.4 million. It was also the only altcoin to witness outflows during the week. This is in sharp contrast to Solana, which continues to benefit from strong investor support. Massive inflows into altcoin Solana continue. Looking at Kriptokoin.com, the cryptocurrency saw an additional inflow of $15.5 million last week. Accordingly, it increased the year-to-date inflow total to $74 million, accounting for 47% of total AuM. It is noteworthy that this entry occurred before the price increase in Solana.
To be informed about the latest developments, follow us Twitter’in,Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.