Tuesday, November 30, 2021

Large institutional investors continue to invest in cryptocurrency products.

The Takeaway:

Large institutional investors poured millions into crypto investment products last week despite the recent $500 billion market correction.

ADVERTISEMENTKillerlaunch domains

Large institutional investors poured millions into crypto investment products last week despite the recent $500 billion market correction. Crypto market sentiment remained positive during the past seven days despite a dip in the value of cryptocurrencies. The weekly digital asset inflows report published by CoinShares highlights $154 million worth of institutional investment into crypto products. As expected, investors preferred Bitcoin over other cryptocurrencies in the last week.

 

ETFs help cryptocurrencies attract more institutional investors.

In addition to Bitcoin and other crypto-assets like SOL, Binance Coin, and Polkadot, Ethereum saw consistent inflows during the recent week. The most important driver behind the jump in BTC-related inflows was a surge in the recently launched ETFs in the US. As far as altcoins are concerned, investors preferred Solana (SOL) over Polkadot, Binance Coin (BNB), and Litecoin (LTC). In the past four weeks, SOL attracted a total of $43 million worth of institutional investment. Some other crypto-assets like Cardano (ADA) saw outflows worth $2.1 million last week for the first time in several months. 

 

Crypto investment products saw inflows totaling US$154m last week.

“Crypto investment products saw inflows totaling US$154m last week, with the most recent price correction, where Bitcoin prices fell by 12% over the week, seemingly not impacting the positive investor sentiment. Bitcoin continues to see the majority of inflows, totaling US$114m last week. This has helped it retain an asset under management (AuM) share of 67% over the last month amongst investment products,” CoinShares highlighted. “Although this has not been reflected in market prices, with Bitcoin having fallen 4% over the month versus Ethereum, which rose 14% over the same period. This disparity may be due to the recently launched ETFs in the US where investment products saw 90% of inflows,” the report added.

ADVERTISEMENTBtrz jokerbtc 728x90 en

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

Leave A Reply

Please enter your comment!
Please enter your name here