$440 million came to crypto funds: “Unusual” investment in altcoins
Crypto funds received $441 million in investments last week. Although Bitcoin's dominance was evident in the funds as always, this dominance decreased to 90 percent and investors also saw the declines in altcoins as an investment opportunity.
CoinShares, Europe's largest digital investment company, published its report on last week's fund inflows and outflows. While there was a net inflow of $441 million into crypto funds, $398 million of this figure entered Bitcoin funds.
“Unusual” entries into altcoins
CoinShares analysts also drew attention to the inflows into altcoins in their report. It was stated that 90 percent of the inflows were into Bitcoin funds, and even though this figure was high, the remaining 10% was also unusually high for altcoins:
“In a significant portion of the total inflows, investors unusually preferred altcoins. The largest investment was in Solana funds with $16 million. Ethereum funds also saw inflows of $10 million, although they are the only altcoin funds to see net outflows since the beginning of the year.”
Other important funds that received investments were Litecoin with 900 thousand dollars, XRP with 400 thousand dollars, Polkadot with 200 thousand dollars and Cardano funds with 100 thousand dollars.
On the other hand, in the week when Bitcoin dropped sharply, there were inflows of 500 thousand dollars into "short Bitcoin" funds.
On a regional scale, the USA was the jurisdiction with the highest inflows with 384 million dollars. The closest region to it was Hong Kong with 32.3 million dollars.
-Hakan Ateşler
