Institutional exposure to altcoin products hits all-time highs again

Institutional demand for altcoins has risen to record levels, and altcoins’ market share now accounts for 35% of the locked up capital in cryptocurrency investment products.

According to the message weekly on the cash flows of digital assets by CoinShares on September 7th Nearly 40% of last week’s entries for digital asset investment products were attributed to instruments that follow altcoins.

While $ 97.8 million was invested in cryptocurrency investment products between August 30 and September 3, the third consecutive week in the industry, $ 38.9 million was invested in altcoin products.

Institutional exposure to altcoin products hits all-time highs again
Institutional exposure to altcoin products hits all-time highs again

There has also been a significant surge in institutional investments in cryptocurrencies over the past week, as $ 24 million and $ 21 million were received in the previous two weeks.

CA 35% of the capital invested in institutional crypto investment products is currently tied up in instruments that track assets other than Bitcoin, that is a repetition of the historical maximum of the meter in May.

Ethereum (ETH) tracking products topped the Altcoin Pack for the second week in a row, Registration of entries of $ 14.4 million, a decrease of 16.2% from $ 17.2 million the previous week.

Solana-based (SOL) products saw weekly entries increase 388%, and SOL products raised $ 13.2 million. This coincided with the 37% increase in the price of SOL over the same period.

CoinShares highlighted that Inflows to Solana products have doubled year over year (YTD) over the past week; To date, $ 25 million has been invested in SOL instruments in 2021. SOL-based products now represent $ 44 million (AUM) of assets under management..

Cardano (ADA) and Polkadot (DOT) -based funds also made notable entries of USD 6.5 and 2.7 million respectively.

Bitcoin (BTC) investment products broke an eight-week exit trend – the longest streak ever for digital asset products – after inflows of $ 58.9 million for the week. Despite the bullish momentum shift BTC investment products have seen exits in 14 of the last 17 weeks.

According to CoinShares estimates Institutional asset managers currently represent total combined assets of $ 62.5 billion, close to the record high of $ 66 billion posted in mid-May.

The leading institutional asset manager, Grayscale continues to dominate the competition, accounting for 73% of the industry’s total assets at $ 46.2 billion..

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