According to the CoinShares report, cryptocurrency Despite the negative performance observed in the market, a total of $127 million in assets flowed into crypto assets last week.
Compared to the previous week, there was a slight increase in the inflow of digital assets. This is thought to be due to the relative recovery observed in the cryptocurrency market last week. Investors have become more active as the volume of flows into risky assets has increased, according to the data.
“Institutional Investors Turned Majorly To Bitcoin, Altcoins To Ethereum”
Geographically speaking, positive weather and fund inflows were mostly concentrated in North America. While the amount of assets entering the market from North America was at the level of 150 million dollars, this value was 24 million dollars for Europe. Not surprisingly, the most popular crypto asset among institutional investors bitcoin‘he said. Institutional investors have transferred nearly $100 million in funds to Bitcoin.
Last week, the Purpose ETF became the largest provider of brokerage entries into the cryptocurrency market, with $130 million in investment. CoinShares XBT was the market’s biggest loser, with $21 million in assets withdrawn from client funds.
Ethereum and other to altcoins When looked at, it was observed that the amount of flow to altcoins last week was approximately 33 million dollars in total. The world’s largest altcoin, Ethereum, received $ 25 million, while other multi-asset funds received $ 8.6 million.
According to experts, the return of institutional investors to the crypto market could be a sign of recovery after a three-month correction period that caused the values of digital assets to drop by around 50%.
*Not investment advice.