Logo
Cardano Ecosystem

Cryptovibes

08/31/2021

·

735 views


Institutions Still Bullish On Cardano And Ether As Bitcoin Outflows Persist

Market analysis conducted over the past week confirmed that Ethereum and Cardano continued to dominate inflows spearheaded by institutional crypto investment products while demand for Bitcoin products persistently weakened. In general, the institutional inflows to altcoin investment products continued...

Institutions Still Bullish On Cardano And Ether As Bitcoin Outflows Persist

Market analysis conducted over the past week confirmed that Ethereum and Cardano continued to dominate inflows spearheaded by institutional crypto investment products while demand for Bitcoin products persistently weakened.

In general, the institutional inflows to altcoin investment products continued to soar over the past week, while the Bitcoin products recorded minor outflows.

In a ‘Digital Asset Fund Flows Weekly’ report published on August 30, CoinShares confirmed that altcoin-based investment products recorded overall inflows of $24 million over the past seven days.

The digital assets investment products for the altcoins saw a second consecutive week of inflows, with investments products increasing 14.3% over the past week compared to the previous week that saw inflows totaling $21 million.

Remarkably, Ether emerged as the most favored crypto-asset among institutional investors, with ETH-based products posting a weekly inflow of $17.2 million over the past week. CoinShares noted that products tracking Ethereum and other altcoins now represent 32% of the sector’s total assets under management (AUM), just a few points to a mid-May record high of 35%.

Cardano was the second-most popular tracking crypto asset over the past week, with inflows totaling $10.1 million, representing 32% of the weeks’ total altcoin inflows. Cardano-based instruments now hold 0.15% of the total capital locked in crypto investment products cumulatively.

The current inflows surge on Cardano is reportedly caused by an anticipated system upgrade dubbed “Alonzo” on September 12. The system upgrade will see Cardano launching its smart contracts functionality for the first time.

On the other hand, both Polkadot and Solana-based funds also saw inflows with $1.5 million and $2.7 million, respectively. Solana has now surpassed Bitcoin Cash for assets under management in related funds with $16 million, ranking ninth in AUM with BCH funds in tenth.

Despite the current bullish momentum surrounding the crypto market, CoinShares confirmed that Bitcoin products continued to see outflows for an eighth-consecutive week over the past week. Bitcoin lost $3.8 million for the period, with BTC posting outflows 14 times out of 16 weeks.

Based on data acquired from CoinShares, institutional asset managers currently represent an AUM of $56.8 million combined, attributing the slight week-over-week drop in sector-wide AUM to persistent outflows from Bitcoin products.

In a related analysis for the performance of fund issuers, CoinShares summarized that its Bitcoin fund (XBT) saw the heaviest losses over the past week, with an outflow of $14.5 million. Remarkably, ETC issuance saw the largest inflow at $14.1 million over the same period.

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on Cryptovibes

ORIGINAL SOURCE

https://www.cryptovibes.com/blog/2021/08...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


Genius Yields DEX Launched!

More from Cryptovibes

See more
How Britain’s Pension Scheme Hedge Turned Into A Trillion-Pound Gamble
Cryptovibes
How Britain’s Pension Scheme Hedge Turned Into A Trillion-Pound Gamble

10/16/2022

·

466 views

Related News

See more
Genius Yields DEX Launched!

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)