Digital asset manager CoinShares says last week’s crypto market recovery was accompanied by significant institutional investment inflows for several large digital assets.
According to the latest Digital Asset Fund Flows Weekly report, the largest crypto by market cap, Bitcoin (BTC), enjoyed last week’s largest share of institutional investments.
“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.
Featured Image: Shutterstock/PHOTOCREO Michal Bednarek