Institutional Investors Flock To These Cryptocurrencies

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Digital asset manager CoinShares announced in its latest report that institutional investors are flocking to the newly created tier-1 crypto investment products.

Institutional Investors Flock To These Altcoins

As the leading cryptocurrency Bitcoin (BTC) receives over $20 million in investments and the second largest cryptocurrency Ethereum (ETH) breaks its nine-week breakout trend, the newly created for institutional investors Terra (LUNA), Tezos (XTZ) and Cosmos (ATOM) flocking to altcoin investment products.

In the statement made by CoinShares, the following statements were included;

“Recently created altcoin investment products Terra, Tezos, and Cosmos have invested $2.2 million, $0.9 million and $0.6 million, respectively.”

According to CoinShares, Bitcoin, the largest cryptocurrency by market capitalization, maintained the largest entry share last week, reaching $25 million, closing a four-week inflow of entries.

After nine weeks of exits, the leading smart contract platform and the second-largest cryptocurrency by market capitalization, Ethereum took the second place in the list of cryptocurrencies that institutional investors invested the most last week.

CoinShares made the following statements about Ethereum;

“Ethereum finally broke its 9-week exit spell with $21M inflows last week.”

20 Million Dollar Investment

On the other hand, investment products with multiple digital assets, also known as multi-asset digital investment products, received around $20 million in inflows last week.

CoinShares continued, “Multi-asset investment products remain popular, with inflows totaling $19 million last week.” said.

Finally, popular altcoins Solana (SOL) and Ripple (XRP) have also received multi-million dollar inflows from institutional investors.

“Solana (SOL) and Ripple (XRP) saw entries of $3.1M and $2M, respectively.”

However, digital asset manager CoinShares also stated that there is currently a small difference in entries depending on geography.

“There are some regional differences, with US$5.5 million in output and US$80.7 million in inflows.”