Most of the crypto holdings accrued by institutional managers climbed up for a fifth consecutive week. This is a straight sign that most market participants have completely flipped bullish on BTC and other token cryptocurrencies.
Most of the investment flows into crypto products had a total of $42 million on the 19th of September, with the funds from Bitcoin seeing an inflow of $15 million- according to CoinShares- the digital asset manager. This has reportedly been the third time in the last 16 weeks that the investment products of Bitcoin saw major positive inflows.
Crypto Holdings Have Been Coming Up Strong
All the major crypto holdings managed to register a weekly increase with most of the institutional investors accruing up to $6.6 million worth of Ethereum products with $3.7 million worth of multi-asset holdings. Several investors have also allocated a sum of $4.8 million towards Solana by completely bypassing a denial-of-service disruption that took place earlier this week due to network congestion.
With regards to actual products, 21Shares maintained the largest inflow of the week at $28 million. The crypto exchange-traded provider which was physically backed has around $1.87 billion in crypto holdings under management. Currently, Grayscale has settled into its throne of the single largest crypto asset manager with around $43.177 billion in total assets.
Institutional investors have turned into big-game players in the cryptocurrency market, which is simply a testament to the acceptance crypto holdings have been receiving. Some of the biggest asset managers in the crypto sector have informed Cointelegraph that investing in digital assets doesn’t automatically imply a career risk- which was previously prevalent.