Digital asset manager CoinShares said last week’s recovery in the crypto market was accompanied by significant institutional investment inflows for several major digital assets.
According to the latest Digital Asset Fund Flows Weekly report, it is the largest cryptocurrency by market cap. Bitcoin (BTC)received the largest share of corporate investments last week.
“Bitcoin continues to lead inflows with $71 million invested last week. This amount represents the largest inflow since the beginning of December, with a total inflow of US$108 million over 3 weeks. Volumes in Bitcoin investment products remained low at $1.8 billion last week, compared to $3.4 billion the previous week.”
The leading smart contract platform Ethereum (ETH) On the other hand, it experienced a ninth consecutive week of fund outflows, losing $8.5 million in corporate investments last week.
“Investment product flows for Ethereum show that investors are in a bearish trend with $8.5 million out of funds, with a total of $280 million entering its 9th week…”
Meanwhile, Ethereum rivals Left (LEFT), Polkadot (DOT), Terra (Luna) and Cardano (ADA) It had inflows of $2.4 million, $2.2 million, $1.4 million and $1.1 million, respectively. Among this altcoin pack, LUNA experienced significant institutional investor inflows for the first time this week.
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.