Anna Martynova

For the first time, institutional inflow into Ethereum (ETH) has exceeded that of Bitcoin (BTC). Bitcoin experienced the record outflow last week, according to London-based digital asset manager CoinShares in its new report.

Bitcoin investment products generated a whopping $98 mln outflow,
according to CoinShares. Meanwhile, the second largest cryptocurrency, Ethereum (ETH), has received an abundant inflow of institutional investment. The inflow to BTC amounted to $3.1 bln, to ETH – $4.1 bln.

Altcoin investment products recorded a total inflow of $48 mln, indicating that investors diversified from BTC to altcoin investment products. ETH inflows totaled $27 mln last week, followed by Cardano (ADA) with $6 mln and Polkadot (DOT) with $3.3 mln.

Image: Finance Magnates

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