Crypto asset manager CoinShares said that Bitcoin (BTC) has taken the lion’s share of institutional capital as sentiment in crypto markets remains optimistic. There are also altcoin projects that provide fund inflows. cryptocoin.com We have compiled the details for you, let’s examine the subject together…
CoinShares: Bitcoin sees $225M inflows
CoinShares says in its weekly reports that the total amount of crypto assets under management (AUM) is just 5% away from setting all-time highs due to the recent positive price action. The firm also says that recent tips from SEC chairman Gary Gensler about supporting a Bitcoin ETF could trigger the surge in sentiment. CoinShares adds the following in their statement on the subject:
Bitcoin saw inflows of US$225 million, a significant majority of the total. We believe the rebound in sentiment towards Bitcoin is due to constructive statements by SEC Chairman Gary Gensler potentially allowing a Bitcoin ETF in the US.
CoinShares: While these 3 altcoins were in, these 3 were out!
CoinShares said that Etheruem (ETH) has once again lost some of the institutional flows to Bitcoin, giving up 1% of the total AUM last week. Looking at altcoins in general, the firm has mixed findings. CoinShares adds the following in their statement on the subject:
It was a mixed picture with recent favorites Solana (SOL) ($12.5 million), Bitcoin Cash and Cardano (ADA) ($3 million) and other altcoins continuing to see entries, suggesting that the focus has not shifted entirely to Bitcoin. Other altcoins i.e. Polkadot (DOT), XRP and Litecoin (LTC) did not perform as well with exits of $2.1 million, $0.6 million and $0.2 million respectively.
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