Source: dailyhodl.com
Digital assets manager CoinShares says large institutional investors are pouring money into Bitcoin (BTC) and other digital assets for the fourth consecutive week.
In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that institutional investor sentiment has shifted to decidedly positive, a notable change in the new year.
“Digital asset investment products saw inflows totaling US$76m last week, the 4th consecutive week of inflows with year-to-date inflows now at US$230m, highlighting a decisive change in investor sentiment for the beginning of 2023.”
King crypto BTC, in step with its majority share of the digital assets market cap, enjoyed the heaviest inflows from institutional investors.
“Bitcoin continues to be the primary investor focus, with inflows totaling US$69m, representing 90% of the total flows for the week.”
Out of step with its share of the overall crypto markets, Ethereum (ETH) institutional investments saw minor inflows on the week.
“Despite the improving clarity around unstaking, Ethereum saw only US$0.7m of inflows.”
Other altcoins saw even more minor inflows than ETH. Ethereum rival Solana (SOL) took in $0.5 million. Another ETH competitor, Cardano (ADA), saw $0.6 million of inflows. Ethereum layer-2 scaling solution altcoin Polygon (MATIC) raked in $0.3 million, while other unnamed altcoins saw outflows of $0.5 million.
Multi-asset institutional investment products, those investing in more than one digital asset, suffered $2.5 million in outflows.
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