Institutional investors appear to be dipping their toes back into the crypto markets to get in on lower price levels, according to a new report.
Digital asset manager CoinShares says investors are cautiously adding to their crypto portfolios.
“Digital asset investment products saw inflows for a second week totaling US$19m last week, while small, it continues to suggest investors are beginning to cautiously add to positions at these depressed price levels.”
Leading smart contract platform Ethereum (ETH) has not fared as well as Bitcoin over the past two months, according to the firm.
“Ethereum continues to suffer from negative sentiment with outflows of US$27m, the 8th consecutive week which now total US$272m.”
Multi-asset investment products enjoyed inflows of $32.1 million, while multiple digital assets suffered outflows.
“Solana, Polkadot and Cardano saw outflows last week suggesting investors are shunning altcoins, although multi-asset funds (a combination of coins) saw inflows totaling US$32m, the largest since June 2021, suggesting investors are adopting a diversified investment approach.”
The full CoinShares report can be read here.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia