Institutionals have been investing in crypto for 5 weeks in a row

by in Cryptocurrency News


Back in early September, analysts at CoinShares drew attention to the growing interest of institutional investors in altcoins.

The report released on September 20 said that investment in products targeting leading altcoins has continued to grow over the past five weeks. Moreover, the researchers emphasized that there is again a trend towards the transition of institutions to bitcoin.

During the week, crypto funds raised $ 42 million. Bitcoin products received $ 15 million from this amount.

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The second and third places were taken by ether (ETH) and Solana (SOL). Funds focused on these cryptocurrencies raised another $ 6.6 million and $ 4.8 million in a week, respectively. Moreover, investments in SOL were observed even against the background of a temporary failure in the project’s blockchain.

The rest of the cryptocurrencies received a total of $ 28 million. That is the largest weekly inflow of institutional capital into the mid-tier altcoins.

Grayscale still holds the lead in terms of the number of funds invested in bitcoin and other virtual coins through the giant’s trusts. He currently manages digital assets worth up to $ 43.177 billion.