Institutional investors are cautiously returning to the crypto market, pouring millions into altcoins after a period of significant outflows, according to CoinShares.
A Week of Inflows
Last week saw a total of $226 million in inflows into digital asset investment products. This marks a positive shift after a record-breaking outflow period. While Friday saw a minor $74 million outflow, likely due to higher-than-expected US inflation figures, the overall trend shows nine consecutive days of inflows.
Bitcoin and Altcoins Lead the Charge
Bitcoin (BTC) led the way with $195 million in inflows. Altcoins, however, also saw a significant turnaround, ending a month-long outflow streak. Ethereum (ETH), Solana (SOL), XRP, and Sui (SUI) were the top performers among altcoins, receiving $14.5 million, $7.8 million, $4.8 million, and $4 million respectively. This represents the first week of inflows for altcoins in a month, reversing a $1.7 billion outflow over the previous four weeks.
Regional Investment
The US dominated inflows, accounting for $204 million. Switzerland and Germany also saw notable inflows of $14.7 million and $9.2 million respectively.
Disclaimer: This information is for general knowledge and does not constitute investment advice. Always conduct thorough research before making any investment decisions.
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