CoinShares data on Tuesday showed that institutional investment in cryptocurrencies is at its highest level in three months, a sharp increase from the previous week, which saw $47 million outflows.
The weekly fund flows report for digital assets revealed that investment products for digital assets saw total inflows of $193 million last week, a level not seen since early December 2021.
The last time investment levels were close to the current figure was in the week ended December 3, which seen Inflows valued at $184 million.
Fund flows had a big focus on bitcoin (Bitcoin), with just over 50% of capital going into BTC-based products, which saw inflows totaling $98 million.
Solana (SOL) came in second, registering $87 million in inflows this week, a number that CoinShares says is the “largest single week of inflows on record.” SOL-based funds now account for 36% of assets under management at institutional firms, the largest altcoin after Ether (ETH). ETH-based funds saw just $10.2 million in inflows last week.
Europe made the major contribution Businesses appear to be bolstered by the news that the law prohibiting Proof-of-Work (PoW) mining was not passed. 76% of the inflows, or about $147 million, came from the region last week
Figures from the report stand in sharp contrast to the previous week’s data, which saw $49.4 million withdrawn from BTC and ETH by mostly North American firms concerned about increasing crypto regulations.
Last week, executives at crypto firms Nexo and Amber Group discussed the “exponential” Growth of institutional investments in cryptocurrencies at the Blockchain Africa Conference 2022 and said that while there is an increase in institutional onboarding, barriers to entry may still exist. Kalin Metodiev, co-founder and managing partner of Nexo, said most firms could argue that the crypto market is “still too volatile.”
https://cointelegraph.com/news/institutional-crypto-funds-see-largest-capital-inflows-for-3-months Institutional Crypto Funds See Biggest Capital Inflows in 3 Months