-->
bitcoin

Institutional Investors continues to buy the dip despite market correction – Report

Institutional investors in the crypto space are undeterred by the recent market dip, as they continue to buy bitcoin and other digital currencies in large volumes.

CoinShares Market Capital says the sentiments of investors remain positive.

“Digital asset investment products saw inflows totaling US$154m last week, with the most recent price correction, where Bitcoin prices fell by 12% over the week, seemingly not impacting the positive investor sentiment.” 

RELATED: Institutional Investors prefer Bitcoin to Gold – JPMorgan Strategist

Institutional Investors

The statement continued: “Bitcoin continues to see the majority of inflows, totaling US$114m last week. This has helped it retain an assets under management (AuM) share of 67% over the last month amongst investment products.”

According to the report, bitcoin’s inflow, backed by the positive outlook from institutional investors, exceeded $100 million. CoinShares said.

“Ethereum saw inflows totaling US$14m last week, marking its fourth consecutive week of inflows totaling US$80m…

Inflows into world computer assets suggest that investors favor Solana. By measure of total inflows over the last month, Solana has seen inflows totaling US$43m over the last month versus Cardano at US$23m.”

NEXT: Robinhood Trials Dogecoin Wallet

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

Check Also

bitcoin

EU MPs Attack Amazon’s Participation in Digital Euro Project

A cross-party coalition of members of the European Parliament on Tuesday came under fire at …

Leave a Reply

Your email address will not be published.