Renowned investment firm CoinShares says institutional investors are flocking to the newly created tier-1 altcoin investment products.
CoinShares: Institutional investors flock to these 3 altcoin projects!
Institutional investors are now investing in different altcoins. Famous investment company CoinShares shared the details in its latest altcoin report. Institutions have also flocked to newly created altcoin investment products for Terra (LUNA), Tezos (XTZ), and Cosmos (ATOM) as Bitcoin (BTC) hits over $20 million and Ethereum (ETH) breaks its nine-week exit trend. CoinShares made the following statement on the subject:
Recently created altcoin investment products Terra, Tezos, and Cosmos saw inflows of $2.2 million, $0.9 million and $0.6 million, respectively.
According to CoinShares, Bitcoin, the largest cryptocurrency by market capitalization, took the biggest entry share last week, reaching $25 million.
Institutional money flowed into these 6 altcoins last week!
After nine weeks of exits, Ethereum, the leading smart contract platform and the second largest cryptocurrency by market cap, was the asset with the second largest institutional entry last week. CoinShares made the following statement on the subject:
Ethereum finally broke its 9-week exit spell with $21 million in entries last week.
Last week, Solana (SOL), Binance Coin, Polkadot, Cardano and XRP also received funding from institutional investors.