Hearstelt’s feelings on the crypto Sunday at the held stromt Institute in Cardano: CoinShares

Crypto asset management company CoinShares says institutional investors are showing interest in Cardano (ADA) because the broader crypto Sundays are showing signs of improvement.

A new weekly report from CoinShares says rival Ethereum recorded a $ 1.3 million fund inflow last week. To date, institutional investment in Cardano has been $ 28 million.

 
Polkadot (DOT) and Stellar (XLM) also observed a small influx last week. Both a compliant blockchain and multi-currency trading network print entries for less than $ 1 million.

As for bitcoin, CoinShares notes that the leading cryptocurrency remains “the main exit valve for investors” after BTC recorded a $ 22 million exit in the second week of August.

Looking at Ethereum, CoinShares says its leading smart contract platform has seen a small drop of $ 1.1 million over the past week.

CoinShares highlights the reason that has led to weak corporate investment in all digital asset products.

“Despite continued negative sentiment, this is likely occurring during a period of low investor participation due to seasonal effects seen in other asset classes. Investment product volume is now at $ 3.1 billion a week, up from $ 7 billion a week in May.”

However, the crypto asset management firm notes that the recent rally in crypto markets has contributed to an increase in the value of total assets under management (AUM) of all products.

“On the contrary, based on recent price increases, sentiment in the general crypto market appears to have improved. It pushed Total

the investment product rose 10% in the week to $ 55 billion.”

Source: CoinShares / Medium
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Disclaimer: HODL’s views are not investment advice. Investors should exercise due diligence

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