CoinShares: institutional interest shifts from altcoins to bitcoin

October 18, 2021

CoinShares: institutional interest shifts from altcoins to bitcoin

Inflows to bitcoin-based funds from September 27 to October 1 amounted to $69 million, while total inflows to digital asset-based products were $90 million, according to a CoinShares report.

The positive trend is the seventh week in a row - during this time, the total amount of investments amounted to $411 million. Trading volume remained restrained - $2.4 billion versus $8.4 billion at the peak in May.


"We believe the decisive turnaround in sentiment [in bitcoin fund dynamics] is driven by growing confidence in this asset class and more constructive comments from the SEC and the Fed," analysts stressed.

Ethereum-based funds have raised $20m in capital. The share of such instruments has fallen to 25% from a peak of 28%.


For other altcoins, the week was a mixed bag. Polkadot-based products, Tezos and Binance Coin recorded outflows of $0.8m each, while Cardano and Solana-based products recorded inflows of $1.1m and $0.7m respectively.

Recall that CoinShares development director Meltem Demirors predicted the first cryptocurrency to reach the $100,000 mark by the end of 2021.

Earlier, analysts at JPMorgan concluded that institutions have switched to Ethereum futures.

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Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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