Analysts drew attention to the surge in institutionals activity

by in Cryptocurrency News


Institutionals channeled $ 1.5 billion to crypto funds last week. A report from CoinShares states that 99% of funds were raised by Bitcoin-focused products. For comparison, the week before last, bitcoin funds received only $ 70 million.

Analysts link the activation of hedge funds and other financial institutions with the emergence of ETFs on bitcoin futures. Let us remind you that an exchange-traded fund from ProShares appeared on the market last week.

A record amount was invested in crypto products in a week. The researchers recorded the previous maximum in February. Then, in a week, the funds received $ 640 million. In annual terms, the volume of investments in such instruments reached $ 8 billion, CoinShares emphasized.

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The authors of the report emphasized: "We are seeing a direct result of the SEC making a landmark decision to allow investing in bitcoin ETF futures."

Ethereum funds last week, on the contrary, faced an outflow of funds. Capital of $ 1.4 million came out of them. The rest of the leading cryptocurrencies showed an influx. Funds targeting Binance Coin (BNB), Solana (SOL), and Cardano (ADA) raised $ 1.8 million, $ 8.1 million, and $ 5.3 million, respectively.