CoinShares: Capital Flows of $262 Million from Institutions Pour into Bitcoin, Ethereum, and Solana

Digital Assets Manager CoinShares Reports Institutional Inflows into Bitcoin, Ethereum, and Solana

CoinShares, a digital assets manager, has revealed that institutional investors continue to invest in cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). According to CoinShares’ Digital Asset Fund Flows report, the crypto market has experienced six consecutive weeks of institutional inflows.

The report states that digital asset investment products received a total of $261 million in inflows last week. This brings the total inflows for the past six weeks to $767 million, surpassing the total inflows for the entire year of 2022. These consecutive inflows have not been seen since the end of the bull market in December 2021.

Bitcoin Dominates Institutional Inflows

Bitcoin attracted the majority of institutional inflows with $229 million. This surge in investment is likely due to expectations of a spot Bitcoin exchange-traded fund (ETF) being approved in the US. Additionally, weak macroeconomic data has raised questions about the effectiveness of US monetary policy.

Ethereum saw $17.5 million in inflows last week, breaking its negative trend for this year. Solana remains popular among investors, attracting $10.8 million in inflows.

Altcoins Experience Inflows as Well

Altcoins also received institutional attention, albeit on a smaller scale. Chainlink (LINK) saw inflows of $2 million, while Polygon (MATIC) and Cardano (ADA) received less than a million each.

Hot Take: Institutional Investors Remain Bullish on Crypto

Institutional investors are showing continued interest in cryptocurrencies like Bitcoin, Ethereum, and Solana. Despite recent market volatility, the institutional inflows into digital assets have been consistent for six weeks in a row. This trend suggests that institutional investors believe in the long-term potential of cryptocurrencies and are confident in their investment strategies. The anticipation of a Bitcoin ETF and doubts about US monetary policy have further fueled the inflows. Altcoins are also attracting some institutional attention, indicating a broader interest in the crypto market beyond Bitcoin and Ethereum.