Data finds institutional investors to choose Cardano (ADA) and Ethereum (ETH) over Bitcoin (BTC)

CoinShares data brought forth an interesting highlight that discusses investors’ renewed interest in altcoins such as Cardano and Ethereum. It mentions that the inflows towards Cardano have recorded a notable surge this week, nearly equaling the influx of Ethereum and bringing the total year-to-date amount to $108 million

Ethereum inflows totaled $17.3 million last week followed by Cardano stabilizing at $16.4 million. A week prior, Cardano’s inflows were approximately $5 million while Ethereum was recording steady inflows amounting to $31.4 million.

CoinShares further stated that the recent inflow of capital in Cardano and Ethereum might have attracted more investors to invest in altcoins other than Bitcoin.

“Digital asset investment products saw inflows totaling $151 million last week, the 13th consecutive week of inflows, bringing year-to-date inflows to a record US$9 billion. Intra-week price rises also saw total assets under management (AuM) reach record highs of nearly US$87bn, but closing the week at US$83bn.” the report stated.

Continue reading