Institutional Investment On Bitcoin Reached A New All Time High Since The Second Quarter Of Last Year
Seems institutional investors are taking advantage of the market situation to accumulate more of the primary digital asset bitcoin, as from the report gotten from coinshares which says that there are massive inflows of institutional capital into the bitcoin market during the last six months.
The digital asset firm in their weekly report says that;
Digital asset investment products saw US$117m inflows last week, the largest since July 2022, while total asset under management (AuM) have risen to US$28bn, up 43% from their November 2022 lows.
The focus was almost entirely on Bitcoin, which saw US$116m inflows last week, although there were also minor inflows into short-bitcoin of US$4.4m.
In was recorded that several sector in the crypto space witnessed both inflow and outflow which traditional bitcoin products saw the highest. Which it’s noted that;
Multi-asset investment products saw outflows for the 9th consecutive week totaling US$6.4m, suggesting investors are preferring select investments. This was evident in altcoins as Solana, Cardano and Polygon all saw inflows, while Bitcoin Cash, Stellar and Uniswap all saw minor outflows.
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