Funds focused on digital currencies Cardano (ADA) and Solana (SOL) were the most attractive to institutional investors over the past week. These coins have added over 30% in value over the past seven days.
A report from CoinShares says that institutions are positive about the near-term prospects for these cryptocurrencies. That is why we are seeing an increase in investments in funds focused on Cardano and Solana. They received $ 6.4 million and $ 11 million in a week, respectively.
The researchers note that Cardano funds have already raised a total of $ 68 million.
At the same time, the outflow of funds from bitcoin products continues in parallel. Last week, they lost another $ 2.8 million. In monthly terms, funds focused on BTC lost $ 57.5 million.
The rest of the cryptocurrency products have maintained a positive balance, but the inflow of funds remains small. To date, the funds have accumulated digital assets worth up to $ 57.3 billion.
The lion's share of the funds is managed by Grayscale ($ 44.8 billion). Note that this financial giant invests in several leading digital currencies at once through its trusts. The largest of them, pegged to bitcoin and ether, rose to $ 32.36 billion and $ 10.37 billion.