Institutional Inflow to Ethereum Outpaces Bitcoin For The First Time
For the first time, institutional inflow into Ethereum (ETH) has exceeded that of Bitcoin (BTC). Bitcoin experienced the record outflow last week, according to London-based digital asset manager CoinShares in its new report.
Bitcoin investment products generated a whopping $98 mln outflow, according to CoinShares. Meanwhile, the second largest cryptocurrency, Ethereum (ETH), has received an abundant inflow of institutional investment. The inflow to BTC amounted to $3.1 bln, to ETH – $4.1 bln.
Altcoin investment products recorded a total inflow of $48 mln, indicating that investors diversified from BTC to altcoin investment products. ETH inflows totaled $27 mln last week, followed by Cardano (ADA) with $6 mln and Polkadot (DOT) with $3.3 mln.
Image: Finance Magnates
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