A study by CoinShares says that last week, hedge funds invested about $ 151 million in crypto-focused products.
Thus, under the control of institutions, there are now cryptocurrencies worth a record $ 56 billion. Since January 2021, financial institutions have invested $ 6.5 billion in digital assets.
Researchers drew attention to a surge in investor interest in products focused on the first cryptocurrency. Bitcoin funds raised $ 97.5 million in a week, which is about 65% of all funds sent by hedge funds and investment companies to the crypto sphere.
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A sharp increase in capital spending coincided with another surge in the value of bitcoin. Last week, BTC reached $ 69,000 on some trading floors, now it is trading at $ 59,600.
Ethereum (ETH) and Cardano (ADA) funds have proven to be the most popular after Bitcoin products. They received from institutions $ 17.3 million and $ 16.4 million, respectively.
Solana, Polkadot, and XRP performed well. Products focused on these altcoins were able to attract institutional capital for $ 9.8 million, $ 5.2 million, and $ 3.1 million, respectively.