Digital Asset Investment Products See $1.1 Billion Inflows as Institutional Interest Grows
Digital assets manager CoinShares reports that institutional investors invested $1.1 billion into cryptocurrency investment products following the approval of spot BTC exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). According to CoinShares’ latest report, crypto investment products experienced over $1 billion in inflows last week and show no signs of slowing down.
The majority of the inflows were focused on BTC ETFs, which have reached nearly $3 billion in the past month. This surge in Bitcoin’s price has also increased interest in Ethereum (ETH) and Cardano (ADA), resulting in more inflows for these altcoins compared to the rest of the market.
BTC received 98% of last week’s inflows, totaling $1.09 billion. Ethereum, Cardano, Avalanche, Polygon, and Tron also saw inflows ranging from $0.4 million to $16 million.
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