CoinShares: Institutional investors continue to “transfer” from bitcoin to altcoins - Bits Media

Institutional investors exit Bitcoin for eighth week in a row. Moreover, in a week from 23 by 29 August, the inflow of money into funds for ETH and ADA has noticeably increased.

According to weekly report
by CoinShares, withdrawn from funds for bitcoin last week $3.8 million. The general influx in investment products for altcoins was $24 mln.

The leader in the influx of funds turned out to be ether ($17.2 million) NO ($10.1 million). Interesting, that in just a week the capitalization of funds for Cardano cryptocurrency has increased by 13%. Funds for DOT and SOL coins are attracted $1.5 and $2.7 million respectively.

Unlike last week, investments were displayed not only from Bitcoin products, but also from some other funds. So, A decrease in assets under the control was recorded by multicellular funds, BNB funds and products on XRP. At the same time, the Binance coins were brought out from the funds $3.3 million.

In the context of asset management companies, Funds were withdrawn from CoinShares and 3IQ funds. Market leader, Grayscale company, reported on an increase in assets under $ 200,000. ETC Issuance attracted most of all the money - $14.1 million. The total volume of institutional investors in such products is evaluated in $56.86 billion

Earlier it became known, that the billionaire fund Bill Miller, The Miller Opportunity Trust, I put it 1.55% ($44.7 million) Bitcoin through the purchase of GBTC shares.