Even though there was an outflow from institutional Bitcoin funds, there was an inflow of money into these 3 altcoins!
Which crypto assets are institutions more interested in?
According to the latest report by CoinShares, a successful analytics company, there was an outflow of money from institutional cryptocurrency funds last week. According to this report, which covers corporate funds until April 12, $126 million was withdrawn from crypto funds.
CoinShares Head of Research James Butterfill included the following important details in the report shared on the subject:
âDigital asset investment products saw outflows reaching US$126 million last week. Investors appear hesitant as the positive price momentum has stalled.
Ethereum was the altcoin that suffered the most relative losses last week, with an outflow of US$29 million, continuing its 5th consecutive weekly outflow.
As for altcoins, apart from those included in the reports, more esoteric products such as Decentraland, Basic Attention Token and LIDO have begun to attract attention.â
While there was a fund outflow of $110 million from Bitcoin last week, there was a fund outflow of $28.7 million from Ethereum.
According to fund reports, money inflows were made only into Litecoin (LTC), Polkadot (DOT) and Ripple (XRP). It seems that the amount of money entering these 3 altcoins is 2.7 million dollars in total.
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