Institutional investors to rely on altcoins: 35% of investments are sent to altcoin-based products
According to CoinShares, institutional investors stake on altcoin-based products, as the rate of Bitcoin investments dropped to 65% (the lowest index since May 2021). The experts outline a set of altcoins as exceptionally promising assets.
Ethereum heads the ranking, as the second-largest crypto undergoes crucial updates. The way towards Ethereum 2.0 opens new horizons for investors. The report shows that Ethereum-based funds attracted $14.4 million within the last week, as for the overall investments, ETH funds have already attracted $17.4 billion.
Cardano and Solana are the key breakthroughs of the last week, as funds based on those digital assets got $6.5 M and $13.2 M respectively. As for total investments, Cardano-based funds control $98 million, and Solana-based ones - $44 million. This said, SOL funds weekly investments are 25% of the overall funds under control.
Bitcoin still leads the ranking - the first cryptocurrency attracted $58.9 million investments within the last week, while the overall investment volume equals $40.6 billion. As such, 4.58% of all BTCs are under the management of institutional investment funds.
Despite the ups and downs of the crypto market, experts predict further growth of the crypto market, as the massive adoption of digital currencies is in progress.