According to digital asset manager CoinShares, investors are flocking to the newly created tier-1 crypto investment products.
In the week when Bitcoin (BTC) experienced an inflow of over $20 million, Ethereum (ETH) broke the nine-week exit trend, while institutions Terra (Luna), Tezos (XTZ) and Cosmos (ATOM) flocked to the newly created altcoin investment products for
“The recently created altcoin investment products by Terra, Tezos, and Cosmos have seen inflows of $2.2 million, $0.9 million, and $0.6 million, respectively.”
Bitcoin, the largest cryptocurrency by market capitalization, retained the largest share of fund inflows last week, according to CoinShares. BTC closed the fourth week with investment inflows, with investments reaching $25 million.
Ethereum, a leading smart contract platform and the second largest cryptocurrency by market cap, recorded the second largest amount of institutional entries last week, after nine weeks of exits.
“Ethereum finally broke its 9-week exit curse with $21M inflows last week.”
Investment products that include multiple digital assets, also known as multi-asset digital investment products, received nearly $20 million in inflows last week:
“Multi-asset (token) investment products continued to remain popular with inflows totaling $19 million last week…”
Finally, millions of dollars of investment from institutional investors have also flowed into Solana (SOL) and XRP, last month’s favorite cryptocurrencies.
“Solan and [XRP’ye] There were inflows of US$3.1 million and US$2 million, respectively.”
According to CoinShares, there are currently slight variations in fund inflows depending on geography.
“There are some regional differences in investments, with $5.5 million outflows in the Americas and $80.7 million in funding in European investment products.”
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.