Revealed: Institutional Investors Are Buying Bitcoin and Those 7 Altcoins!

According to CoinShares weekly report, crypto asset investments saw a total inflow of US$2 billion, bringing the last 5-week inflow to US$4.3 billion. Process volumes in ETPs increased by 55% compared to the previous week, reaching US$ 12.8 billion during the week. Bitcoin was again the focus of the week, seeing inflows of US$1.97 billion. Ethereum had its smoothest week of inflows since March, seeing total inflows of $69 million, likely in reaction to the SEC’s decision to allow spot-based ETFs.

CoinShares report: Investors poured funds into Bitcoin and other cryptos

According to CoinShares weekly report, crypto asset investments saw a total inflow of US$2 billion, bringing the last 5-week inflow to US$4.3 billion. Process volumes in ETPs increased by 55% compared to the previous week, reaching US$ 12.8 billion during the week. Bitcoin became the focus of the week again and saw an inflow of US$ 1.97 billion, while the largest altcoin Ethereum (ETH) continued to see inflows due to the impact of spot ETF news and experienced an inflow of US$ 68.9 million. There was an outflow of $5.3 million in the short BTC fund indexed to Bitcoin’s decline.

The CoinShares report believes that this turnaround in investor sentiment is a direct response to weaker-than-expected macro information in the US, bringing forward expectations for a monetary policy rate cut. The positive price movements saw total assets under management (AuM) rise above the US$100 billion level for the first time since March this year. Geographically, the US saw the most inflows last week with a total of US$1.98 billion, with the first day of the week seeing the third highest daily inflow on record. The iShares bitcoin ETF has now comfortably surpassed the classic Grayscale with $21 billion AuM.

Mobility in other altcoins

Bitcoin was again the focus of the week, seeing inflows of US$1.97 billion, while short-bitcoin saw outflows at US$5.3 million for the 3rd consecutive week. While Ethereum saw its best entry week since March with inflows of US$69 million, there was finite activity in altcoins. Fantom and XRP stood out as names that saw inflows of USD 1.4 million and USD 1.2 million, respectively. When we look at other altcoins, Fantom (FTM) experienced a small inflow of $1.4 million, XRP $1.2 million, and Solana (SOL) $0.7 million.

While the interest of institutional investors focused on Ethereum, Solana (SOL), Fantom (FTM), Chainlink (LINK), Ripple (XRP) and Litecoin (LTC) also saw demand. Interest in Solana decreased, resulting in an inflow of $700, Chainlink $700 thousand, Ripple $1.2 million, Fantom $1.4 million, and Litecoin $700 thousand. While institutional investors invest in many altcoins under normal circumstances, Fantom’s inclusion in this list and receiving an investment of 1.4 million dollars was the point that attracted great attention.