According to CoinShares’ latest fund flow report, while digital asset funds allocated to Bitcoin and leading altcoin Ethereum are growing, investors have not been affected by the latest bearish wave that swept the market.
Institutions turn to these altcoin projects
Crypto investment products that include exchange-traded funds (ETFs) saw a total of $154 million in weekly inflows for the week ending Nov. As in previous weeks, Bitcoin investment products attracted most of the entries at $114.4 million. Funds devoted to Ethereum saw weekly inflows of $12.6 million, and multi-asset products recorded $14.1 million in net investments.
Grayscale, the largest crypto asset manager, registered $51.9 billion in assets under management as of November 19. The prominent altcoins in Grayscale’s assets are as follows (in alphabetical order): Basic Attention Token (BAT), Bitcoin Cash (BCH), Chainlink (LINK), Decentraland (MANA), Ethereum (ETH), Ethereum Classic (ETC), Filecoin (FIL), Horizen (ZEN), Litecoin (LTC), Livepeer (LPT), Stellar Lumens (XLM), Zcash (ZEC). DeFi and Digital Large Cap funds include the following coins: Uniswap (UNI), Aave (AAVE), Compound (COMP), Curve DAO (CRV), Maker (MKR), SushiSwap (SUSHI), Synthetix (SNX), Yearn Finance (YFI), UMA, Bancor (BNT), Cardano (ADA) and Solana (SOL).
As we reported , October was a record-breaking month for Bitcoin funds, thanks in part to the approval of two futures-linked ETFs in the US. Institutional executives purchased $2 billion in Bitcoin funds during the month as the BTC price hit all-time highs.