Institutional Money Chose Them: Hundreds of Millions Flowed into These 13 Altcoins!

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Institutional Bitcoin and altcoin funds recorded record inflows in 2021 as demand for cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) continued to rise during a volatile and often unpredictable bull market. As Somanews, we convey the most remarkable altcoins on an institutional basis…

CoinShares and Grayscale data show change in Bitcoin and altcoin funds

According to data from CoinShares, crypto investment products recorded $9.3 billion inflows for the year, up from $6.8 billion in 2020. Bitcoin funds attracted $6.3 billion in capital last year, while ETH products saw around $1.4 billion in inflows. Multi-asset funds were also popular, attracting $775 million in investor capital. A total of 37 investment products were launched in 2021, compared to 24 launched the previous year. Notably, crypto assets included in investment products have increased from 9 in the previous year to 15.

Grayscale remains the largest crypto asset manager with $43.5 billion in assets under management as of Monday. Among the altcoins offered by Grayscale are: BAT, BCH, LINK, MANA, ETH, ETC, FIL, ZEN, LTC, LPT, XLM, SOL, ZEC. Other multi-billion dollar asset managers included 3iQ, 21Shares, ETC Group, Purpose and ProShares.

Despite the enormous volatility, cryptocurrencies gained wider acceptance in 2021, with both individual and institutional investors joining the market. 2021 was a year when the cryptocurrency space became a multi-trillion dollar asset class and coins entered the radar of fund managers and family offices.