Despite market wobbles, institutional investors are still pouring money into crypto. Last week alone, they added nearly $530 million to digital asset investment products, according to CoinShares.
A Week of Volatility
The week wasn’t without its drama. A market dip, partly due to news events, initially caused a $530 million outflow on Monday. But the market bounced back strongly, with over $1 billion flowing in later in the week. CoinShares notes that this volatility isn’t surprising given the significant inflows seen earlier in the year ($44 billion in 2024 and $5.3 billion year-to-date).
Where the Money Went
The US led the way with $474 million in inflows, followed by Europe at $78 million. Canada saw outflows of $43 million, possibly due to trade concerns.
Bitcoin Still King, XRP a Strong Contender
Bitcoin, as usual, dominated, attracting $486 million in investment. Ethereum saw nearly zero net change. But XRP had a strong showing, attracting $14.7 million last week. This makes it the second most popular altcoin among institutions this year, with a total of $105 million in inflows, just behind Ethereum’s $177 million.
Disclaimer
This information is for general knowledge only and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
