According to the latest report from CoinShares, institutional funds invested in cryptocurrencies so far this year have already exceeded the amount in 2020. Digital asset inflows among bitcoin and altcoin asset managers reached $8.9 billion after 12 consecutive weeks of entry.
Corporate coins went to these altcoin projects
Cryptocurrency investment products witnessed $174 million in inflows last week, recording the twelfth consecutive weekly inflow. Crypto-asset inflows have already reached $8.9 billion, breaking last year’s record of $6.7 billion. Cryptocoin. com, the total assets under management reached an all-time high of $80 billion, according to CoinShares.
During its eight-week bull run, the leading cryptocurrency Bitcoin (BTC) saw total inflows of $2.8 billion, with record inflows of $6.4 billion from year-to-date. Entries from the pioneering cryptocurrency account for two-thirds of all entries to date. The second-largest cryptocurrency, Ethereum (ETH), saw $31 million in inflows; also gained momentum with the bullish sentiment last week. Popular altcoins including Polkadot (DOT), Solana (SOL), and Cardano (ADA) witnessed inflows of $9.6 million, $8.5 million and $5 million respectively.