Institutional investors are shifting the amount of capital they’re allocating to the crypto markets, with a surprise altcoin suddenly on their radar.
According to the digital asset management firm CoinShares, crypto investment products enjoyed a 12th consecutive week of inflows from institutions.
Seemingly out of nowhere, Tron (TRX) surged near the top of the altcoin list, recording $21.9 million in inflows over the past week.
In the week that ended November 5th, Ethereum recorded $31.4 million in inflows, Solana registered $9.6 million in inflows while Polkadot and Cardano recorded $8.5 million and $5 million in inflows, respectively. Inflows into XRP over the same period reached $2.5 million.
Over the past week, Bitcoin (BTC) saw the largest volume of inflows among all crypto assets. Year-to-date, the flagship cryptocurrency has registered inflows of over $6 billion.
“Bitcoin saw inflows totaling US$95m last week, representing the largest inflows of all digital assets. Inflows in this 8-week bull run now total US$2.8bn, with year-to-date inflows now at a record US$6.4bn.”
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