CoinShares Digital asset manager notes that Bitcoin (BTC) is bossing the largest share of institutional capital. While, the sentiment in the crypto markets remains upbeat.
Additionally, CoinShares reveals during their weekly reports how the total amount of crypto assets under management (AUM). Thereby, saying it is just 5% away from sitting back all-time highs. Of course, this is due to its recent price uptrend action.
According to CoinShares…,
Notably, The firm also explains that SEC head Gary Gensler’s recent talks on possible a Bitcoin futures exchange-traded fund (ETF). CoinShares goes on to say it may have some contribution in fueling the rise in sentiment.
“Bitcoin saw inflows totaling US$225m, comprising a significant majority of the total…”
“We believe the turnaround in sentiment towards Bitcoin is due to constructive…”
“statements from SEC Chair Gary Gensler, potentially allowing a Bitcoin ETF in the US.”
Furthermore, CoinShares notes that Etheruem (ETH) is also getting a good number of institutional flows. However, its not when in comparison to Bitcoin. Eth is giving up 1% of total AUM over the last week. CoinShares is skeptical especially when looking at altcoins in general.
“It was a mixed picture in other altcoins with recent favorites Solana [SOL] (US$12.5m)…”
“And Cardano [ADA] (US$3m) continuing to see inflows, suggesting…”
“the focus hasn’t entirely switched to Bitcoin.”
“Other altcoins, namely Polkadot [DOT,] XRP, and Litecoin [LTC]…”
“didn’t fare so well with outflows of US$2.1m, US$0.6m, and US$0.2m respectively.”
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