CRYPTO

Institutional investors increased their crypto holdings for the fifth week in a row

The cryptocurrency assets held by institutional managers have risen for the fifth week in a row, a sign that market participants are once again on the rise in Bitcoin (BTC) and leading Altcoins.

According to digital asset manager Coinshares, the week ended September 19 saw an inflow of িতে 42 million in investments in crypto products, while Bitcoin funds saw an inflow of 15 15 million. This is the third time in 16 weeks that BTC investment products have seen a positive flow.

All major assets registered weekly growth, with investors buying থ 6.6 million worth of Ether (ETH) products and $ 3.7 million worth of multi-asset funds. Investors have allocated .. 4.8 million for Solana (SOL), ignoring service rejections earlier this week due to network congestion.

In terms of actual products, 21 shares registered the highest weekly flow at 28 million. The physically supported crypto exchange-traded product provider now has $ 1.87 billion in assets under management. Grayscale is the single largest crypto asset manager, with total assets of $ 43.177 billion.

Fund managers are buying crypto at Lockstep with a massive market recovery that began in late July. Crypto markets reached above 2.2 trillion last week after dropping nearly halfway through mid-July. However, by Monday, all major crypto assets had printed heavy losses as a wall in the Chinese Evergrand News risk perception.

Related: Bitcoin bounce rate extends up to $ 36K with bulls with 36% BTC price reduction

Institutional investors have become important players in the cryptocurrency market, a testament to the growing mainstream acceptance of digital assets. Some of Crypto’s top asset managers told Cointelegraph earlier this year that investing in digital assets no longer carries the same career risks as before, meaning more financial advisers and asset managers are likely to enter the market. This is evidenced by a recent survey by London-based crypto fund Nickel Digital Asset Management, which found that most hedge fund executives have already bought cryptocurrencies.