Institutional investments into cryptos like Solana, Cardano, and Bitcoin is already 30% higher than 2020. Fund managers are not used to investing in cryptocurrencies due to their volatility. However the advancements that could come from blockchain technology cause them to see potential gains with this new investment avenue.
The “hoskinson on solana” is a recent article published by the “Wall Street Journal”. The article talks about how institutional investments into cryptos like Solana, Cardano, and Bitcoin is already 30% higher than 2020.
The speed of crypto acceptance and expansion has continued in 2021, with institutional investors investing 30 percent more in the market this year than they did in the whole year of 2020. This was discovered in a study published by CoinShares, a renowned digital asset management.
Bitcoin is still the most popular cryptocurrency.
The Coinshare report, issued on November 1, stated that investment into the crypto business was roughly $288 million in the previous week, bringing the entire amount of inflow into the field this year to $8.7 billion, which is 30% greater than all of last year.
Bitcoin continues to lead the list of crypto assets with the most institutional inflows, according to the research. Institutional investors poured $269 million into the main digital asset only last week.
Though this figure is a far cry from a fortnight ago, when the United States Securities and Exchange Commission approved a Bitcoin futures ETF, which resulted in over $1 billion in BTC investments (SEC).
The performance of altcoins is also improving.
Altcoins, according to CoinShares investment manager James Butterfill, have also done wonderfully well.
After three weeks of outflows, Ethereum, for example, was finally able to witness some amount of inflows. The entire institutional influx into Ethereum this year has already reached $1 billion, according to the research. Following in the footsteps of its more famed rival, the value of the second biggest crypto asset by market size has since hit a new ATH.
Inflows into other digital assets such as Solana, Cardano, and Polkadot totaled $15 million, $5 million, and $6.2 million, respectively.
“Investors are presently choosing single-line exposure and are becoming more cautious about their altcoin exposure,” according to the report, since “multi-asset investment products experienced withdrawals totalling a record US$23 million, in what is now a three-week run of outflows.”
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The “ada” is a cryptocurrency that has been present since the year 2020. Institutional investments into cryptos like Solana, Cardano, and Bitcoin is already 30% higher than 2020.
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