Share this article
BTC
$83,551.29
-
0.49%ETH
$1,810.70
-
0.59%USDT
$0.9999
+
0.03%XRP
$2.1553
+
1.18%BNB
$592.52
-
0.82%SOL
$120.57
-
1.23%USDC
$1.0003
+
0.03%DOGE
$0.1695
-
0.82%ADA
$0.6538
-
1.41%TRX
$0.2368
-
0.65%LINK
$12.92
-
0.48%LEO
$9.1380
-
0.68%TON
$3.2526
-
3.62%XLM
$0.2540
-
2.39%AVAX
$17.74
-
2.92%SHIB
$0.0₄1234
-
0.35%SUI
$2.2159
-
1.96%HBAR
$0.1619
-
1.19%LTC
$83.00
-
2.17%BCH
$305.11
+
1.04%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Investors Add to Altcoin Funds as Bitcoin Outflows Mount
Digital-asset funds focused on Cardano and other altcoins have attracted fresh capital.
Bitcoin investment products recorded their eighth consecutive week of outflows, totaling $3.8 million, but alternative coin (altcoin) funds continued to attract fresh capital, according to a report Monday.
Overall, crypto funds netted inflows totaling $24 million during the week ending Aug. 27, down about $3 million versus the prior week, according to the report by digital asset investment manager CoinShares.
STORY CONTINUES BELOW
- Altcoins, or cryptocurrencies other than bitcoin, now represent 32% of total digital assets under management, close to the record 35% set in mid-May.
- Cardano-focused funds saw inflows totaling $10.1 million over the past week, as the price of its associated cryptocurrency ADA doubled over the past month.
- Ethereum funds saw inflows totaling $17 million last week, with a relatively stable digital asset fund market share of about 25%, according to CoinShares.
Damanick Dantes
Damanick was a crypto market analyst at CoinDesk where he wrote the daily Market Wrap and provided technical analysis. He is a Chartered Market Technician designation holder and member of the CMT Association. Damanick is also a portfolio strategist and does not invest in digital assets.
