Bitcoin Dominates Institutional Capital Flows As Investors Accumulate Ethereum, Solana, and Cardano: CoinShares

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Digital asset manager CoinShares says Bitcoin (BTC) is taking the lion’s share of institutional capital, as sentiment in the crypto markets remains bullish.

In its weekly report, CoinShares says the total amount of crypto assets under management (AUM) is only 5% of hitting all-time highs due to recent positive price action.

The company also said recent hints from SEC Director Gary Gensler regarding the possibility of backing a Bitcoin futures exchange-traded fund (ETF) could have fueled the rise in sentiment.

“Bitcoin recorded inflows totaling US $ 225 million, comprising a significant majority of the total.

We believe the shift in sentiment towards Bitcoin is due to constructive statements by SEC Chairman Gary Gensler potentially allowing a Bitcoin ETF in the United States. “

CoinShares reports that Etheruem (ETH) has again conceded some of the institutional flows to Bitcoin, relinquishing 1% of total assets under management over the past week. Looking at altcoins in general, the company has mixed results.

“It was a mixed picture in other altcoins with recent favorites Solana [SOL] ($ 12.5 million) and Cardano [ADA] (US $ 3 million) continues to see entries, suggesting that the focus is not entirely on Bitcoin.

Other altcoins, namely Polkadot [DOT,] XRP and Litecoin [LTC] did not fare so well with outflows of $ 2.1 million, $ 0.6 million, and $ 0.2 million respectively.

Source: CoinShares

The full CoinShares report can be read here.

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