CoinShares News

Institutional investors piled $225 million into Bitcoin products, while Ether products saw outflows of $13.6 million this past week.

Institutional crypto appetites have shifted away from altcoins back to Bitcoin, with BTC investment products leading the inflows for digital asset products for the second week in a row.

While institutional Bitcoin products have experienced outflows for 13 of the past 17 weeks, the sector has now seen three straight weeks of inflows.

Despite the recent selloff in the crypto markets, institutional managers have been quietly turning bullish over the past month.

Institutions were betting big on Solana investment products last week, with SOL-tracking products attracting 86.6% of institutional inflows to digital asset products last week.

Inflows to Solana-based investment products saw a whopping 388% increase last week, with institutional investors gaining exposure to $13.2 million worth of SOL products.

Ether and Cardano continue to dominate inflows to institutional crypto investment products, while demand for BTC weakens.

Solana represented one-third of total inflows to institutional crypto investment products this past week.

While institutions are still withdrawing capital from Bitcoin investment products, money is flowing into Ether and altcoin products.

Institutional investors are diversifying into altcoins amid the latest market downturn. Multi-asset investment products registered another sharp rise in weekly inflows.

Bitcoin funds are still in decline as institutional sentiment remains bearish.

Institutional Bitcoin products have recorded outflows for nine of the past ten weeks, suggesting many investors remain bearish.

Sophisticated investors appear to be spreading their risk across the crypto sector, with multi-asset products beating out BTC and ETH by inflows.

CoinShares’ weekly report showed institutional managers are buying into crypto funds again after four weeks of profit taking.

Elwood is set to sell its blockchain-focused ETF index to CoinShares for $17 million.