Institutions remain bullish on Cardano and Ethereum, while Bitcoin outflows persist

Institutional inflows to altcoin investment products have continued to increase this past week, but the same cannot be said for Bitcoin.

In its “Digital Asset Fund Flows Weekly” report on Monday, institutional asset manager CoinShares identified overall inflows of $24 million to altcoin-based investment products. The capital flows mark the second consecutive week of inflows to altcoin funds, with investments into altcoin products increasing by 14.3% compared to last week’s $21 million.

Ether was the favored asset among institutional investors, with ETH-based products posting a weekly inflow of $17.2 million. The report noted that products tracking Ether and other altcoins now represent 32% of the sector’s total assets under management (AUM) — just 3% shy of mid-May’s record of 35%.

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