Institutional investors increase their crypto holdings for the 5th week in a row

Crypto assets held by institutional managers have risen for the fifth straight week, a sign that market participants have become optimistic again on the top altcoins of Bitcoin (BTC) and Bitcoin (BTC).

Tiền ảo (crypto) là gì? Tất tần tật về mọi thứ mà bạn cần biết về tiền ảo

Investment inflows into crypto products totaled $ 42 million for the week ended September 19, with Bitcoin funds hitting $ 15 million, according to digital asset manager Coin Shares. For the third time in 16 weeks, BTC investment products recorded positive inflows.

All major assets posted weekly gains, with investors buying $ 6.6 million in Ether (ETH) products and $ 3.7 million in multi-asset funds. Investors also allocated $ 4.8 million to Solana (SOL), bypassing the denial of service interruption earlier this week due to network congestion.

970x90.gif (970×90) Image Description

In terms of actual products, 21Shares has its largest weekly inflow of $ 28 million. The physically assisted provider of crypto exchange trading products currently manages $ 1.87 billion in assets. Grayscale remains the largest crypto asset manager with total assets of $ 43.177 billion.

Fund managers bought crypto right on the springboard with the broad market rally that began in late July, with the crypto market hitting over $ 2.2 trillion last week after falling to roughly half by mid-July. However, on Monday, all major crypto assets suffered heavy losses as China’s Evergreened news stifled risk sentiment.

Related: The Bitcoin rally extends to $ 36,000 with the bulls unaffected by 8% BTC price drop

Institutional investors have become major players in the crypto market, evidencing the growing mainstream adoption of digital assets. Some of the largest crypto asset managers told Coin telegraph earlier this year that investing in digital assets no longer carries the same professional risk as before, which means that many advisors, financiers and asset managers have the opportunity to participate in the market. This was confirmed by a recent survey by London-based crypto fund Nickel Digital Asset Management, which found that most hedge fund executives have bought crypto.