Institutionalists Turn to ETH and ADA and Abandon Bitcoin

Author & Guarantor: Elena Yefimenko

Are institutions currently more fond of altcoins than Bitcoin (BTC)? This seems to be indicated by a publication from the analysis site CoinShares, which reveals the interest of “nerds” in Cardano (ADA) and Ethereum (ETH).


Institutionals turn to ADA and ETH

According to this new analysis from Crypto-Auditor and Coinshares, institutional appetite for ADA and ETH is particularly noticeable over the past week. This is particularly the case for Ethereum’s assets: ETH-dedicated products saw an influx of $ 17.2 million last week. The Cardano ADA, meanwhile, saw an influx of capital to the tune of $ 10.1 million. This is the first time that this share has grown so much.

For comparison, institutions withdrew $ 3.8 million from investment proceeds dedicated to Bitcoin over the same period. This seems to indicate a more marked attraction for altcoins. This is further confirmed by an inflow of $ 2.7 million towards products dedicated to Solana (SOL).

This is the 8th week in a row that Bitcoin has seen institutional funds lose capital: this corresponds to a loss of $ 60.9 million over the month. Altcoins currently represent 32% of assets under management, a threshold close to the record 35% set in mid-May.

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