Investors are moving capital from bitcoin funds to altcoin-based products

CoinShares data shows institutional investors continue to withdraw capital from bitcoin funds for the fifthI share in a row, despite the resumption of market growth.

A recent report from the company says that over the pastthe week, an outflow of $ 33 million was recorded. At the same time, the asset manager notes a decrease in the rate of capital withdrawal compared to the last two months, when the weekly figure reached $ 141 million.

It is noteworthy that investors in the world's largest crypto fund, Grayscale, continue to hold their positions. Although he also does not observe an influx of funds with Bitcoin’s weekly growth of 17.5%.

CoinShares also sees a rise in interestinstitutional investors to products based on altcoins. Ethereum-based funds added $ 2.8 million last week, according to the company. They currently account for 26% of the capital of the total volume of investment crypto products designed for large investors.

A significant inflow of capital was also felt by funds inXRP base, bitcoin cash, cardano and combining several cryptocurrencies. In each of the directions for the week, an inflow was recorded in the amount of $ 0.8 million to $ 1.1 million.

37 new projects have already been launched in 2021crypto funds, which is more than any other year. The previous record was recorded in 2018, when 30 funds appeared. Taking into account the latest changes, currently the total value of cryptoassets under active management exceeds $ 50 billion, with Grayscale accounting for $ 40.4 billion.

A recent study by Dutch trust company Intertrust Group also found that 98% of hedge funds are preparing to deal with digital assets in the next five years.

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