Big Money Buying Bitcoin, Ethereum, XRP, Polkadot, Cardano and Bitcoin Cash As Crypto Fund Inflows Return: CoinShares

Digital asset management company CoinShares says there has been a change in the sentiment of institutional investors about the return of their entry into crypto markets.

In a new report, CoinShares highlighted that for the first time in more than two months, institutions have transferred money to all crypto assets worth tens of millions of dollars.

 
“For the first time in five weeks, investment in digital assets was $ 63 million last week. And for the first time in nine weeks there has been an influx of funds into all individual digital assets, which means a shift in investor sentiment.”

According to CoinShares, deep-pocketed investors are mostly interested in bitcoin, followed by Ethereum.

“Bitcoin has seen the biggest inflow, totalling $ 39 million, with small data updates showing a two-week inflow in previous weeks. Ethereum, after a three-week exit, saw an entry totaling $ 18 million.” 

At the time of writing, Bitcoin was trading at $ 34,778, up 0.07% over the past 24 hours, according to CoinGecko.

Other subsources are also attracting the attention of institutional investors. The emerging Blockchain platform Cardano (ADA) showed an inflow of $ 2.10 million, while XRP received a capital inflow of $ 1.20 million. Compatible protocol Blokcheyna Polkadot (Dot) and bitcoin-cache BTC fork (BCH) are in the field of view of players with big money with an influx of US $ 700 000 and 400 000 respectively.

Source: CoinShares
As millions of dollars poured into bitcoin last week, CoinShares notes that the trading volume of BTC investment products was at its lowest level in eight months.

“Despite last week’s flow of funds, sales of bitcoin investment products were at their lowest level since November 2020. Similar observation was observed more generally throughout the bitcoin ecosystem, with volumes down 38% compared to the 2021 average.”

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