Digital asset manager CoinShares is detailing a shift in the way institutions are allocating capital to Bitcoin and the altcoin markets.
According the firm’s latest report, a tidal wave of inflows triggered by the launch of the first Bitcoin (BTC) futures exchange-traded fund (ETF) in the US has evened out.
The asset manager says the crypto king saw roughly $268,000,000 in new inflows, compared to $1,450,000,000 the week before.
After three consecutive weeks of outflows, Ethereum broke the streak with $16,600,000 in inflows.
Solana is also on the rise, recording more than $14,700,000 in inflows compared to $8,000,000 last week.
As institutions target specific altcoins, they are simultaneously pulling money away from multi-asset investment products, according to CoinShares.
“Multi-asset investment products saw outflows totaling a record US$23m, in what is now a 3-week run of outflows. We believe investors are currently preferring single-line exposure and are becoming more discerning over their altcoin exposure.”
You can check out the full CoinShares report here.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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