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).
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.