Bitcoin Dominates as Institutional Investors Pour $742 Million into Crypto
Institutional investors are showing greater trust in Bitcoin and cryptocurrencies, with $137m invested last week alone.
CoinShares, a digital asset manager, states that institutional investors are showing more confidence in Bitcoin (BTC) and other cryptocurrencies than they have since 2021.
CoinShares' recent weekly report shows that last week, institutional investors invested $137 million in the crypto markets. This continues a trend of inflows over the last four weeks, totaling $742 million.
Last week's trade volumes in investment products were much higher than the average of $1.4 billion for the year, at $2.3 billion. These volumes made up 11% of the total crypto volumes, compared to the average 2%.
The report states that most of this investment came from North American investors, especially the US, with $109 million.
Bitcoin received the most investment, totaling $140 million, which is 99% of all inflows. Meanwhile, short Bitcoin investment products saw a 12th week of outflows of $3.2 million. Because of recent price increases and outflows, short Bitcoin's total assets under management fell from $198 million in April to $55 million now.
Other cryptocurrencies like Litecoin (LTC), Solana (SOL), XRP, Cardano (ADA), and Polygon (MATIC) each received investments of $0.5 million or less. However, Ethereum (ETH) experienced outflows of $1.6 million last week.
