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The moves of corporate investors towards crypto asset investment products continue. Last week, there was an inflow of $862 million. Let’s take a look at the shaping of interest in which cryptocurrencies by the institutions.
Institutions Selling Ethereum to Purchase Bitcoin
We see that the inflows for Bitcoin are at the level of $865 million. Notably, there has been an outflow of $18.9 million in Ethereum by institutional investors.
On the other hand, institutional investors have been particularly investing in Solana, Cardano, and Polkadot. Accordingly, Solana has seen an inflow of $6.1 million, while Cardano and Polkadot have respectively seen inflows of $1.1 million and $2.4 million. For Litecoin, there has been an inflow of $200,000.
What is the Situation by Country?
Looking at the situation by country, the United States is undoubtedly the country with the most inflows. Especially after the approval of spot Bitcoin ETFs, the country maintains its leadership. Accordingly, it is seen that there has been an inflow of $897 million from the USA.
There are two more countries with notable inflows. Accordingly, inflows from Australia are seen to be $1.5 million. Brazil stands out with inflows of $2.9 million.
Looking at the outflows, the countries with the most significant outflows are Canada, Switzerland, and Germany. Outflows from these countries are respectively $20.3 million, $15.6 million, and $10.5 million. Lastly, there has been an outflow of $2.4 million from Sweden.
