Digital asset manager CoinShares says last week’s crypto market recovery was accompanied by significant institutional investment inflows for several large digital assets.
“Bitcoin continues to lead the inflows with US$71m last week, the largest since early December with this 3-week run of inflows totaling US$108m. Volumes in Bitcoin investment products remained low last week at US$1.8bn versus US$3.4bn the previous week.”
Leading smart contract platform Ethereum (ETH) suffered its ninth consecutive week of outflows, losing $8.5 million in institutional investments last week.
“Investment products flows for Ethereum suggest investors remain bearish with outflows of US$8.5m, having entered the 9th week run of outflows totaling US$280m…”
Meanwhile, Ethereum challengers Solana (SOL), Polkadot (DOT), Terra (LUNA) and Cardano (ADA) all saw inflows totaling $2.4 million, $2.2 million, $1.4 million and $1.1 million, respectively. This was the first week of significant institutional investor inflows for LUNA.Check Price Action
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Featured Image: Shutterstock/PHOTOCREO Michal Bednarek