CoinShares records a rise in capital investments in ADA and SOL

by in Cryptocurrency News


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.

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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.