Institutionalists invested almost $300 million in Cryptofunds in a week

Institutionalists invested almost $300 million in Cryptofunds in a week

Analysts at asset management company CoinShares reported that institutional investors invested $274 million in Cryptocurrency funds during the week of May 9-13, a record since the beginning of the year.

According to the report, Bitcoin trusts were at the peak of popularity – investors invested $298.6 million in them. But from products on ETH, SOL and DOT funds were withdrawn – the outflow was $26.7 million, $5.3 million and $0.6 million respectively.

There was little investment in LTC, TRX, ADA and XRP products. But multicurrency funds received $8.6 million. In total, investors increased their investments by $274.2 million during the week.

“It seems that investors regarded the UST’s decoupling from the U.S. dollar exchange rate and the subsequent decline in the Cryptocurrency market as an opportunity to buy assets”

coinshares analysts said

As for Cryptocurrency product providers, most of the inflows came from the Purpose bitcoin futures ETF – $284.8 million. ProShares and CoinShares Physical products also ended the week with a positive balance. But CoinShares XBT, 3iQ, 21Shares and ETC Group lost some funds.

Earlier, analysts at CryptoQuant in Korea said that market volatility did not stop large investors from accumulating Bitcoins.

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Written by Renat
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