Institutionals took advantage of the fall in the PRC stock market

by in Cryptocurrency News


Over the past few months, institutional investors have been withdrawing from bitcoin funds and investing in altcoin-focused products.

According to CoinShares, financial institutions took advantage of the fall in the Chinese stock market and invested in crypto products at the most comfortable prices for them.

The report released the day before: says that between September 20-24, companies and hedge funds invested $ 95 million in digital assets. In weekly terms, capital investment growth was 126%.

Trending: Cardano-based DEX Ardana Teams up With Near Protocol

The most popular products turned out to be Bitcoin (BTC) and Ether (ETH). They received $ 50.2 million and $ 28.9 million, respectively.

Over the past seven days, there has been a trend towards improving the attractiveness of bitcoin funds, the researchers emphasized. According to them, investments in BTC products increased by 234% over the week.

In addition to bitcoin and ether, institutions continue to invest in the altcoins Solana (SOL), Cardano (ADA), and Polkadot (DOT). Funds targeting these digital currencies received $ 3.9 million, $ 2.6 million, and $ 2.4 million from financial institutions, respectively.