Big Investment In Ethereum & Bitcoin Like Assets By Financial Institutions : CoinShares Report
Reports say, most of the institutional investors are highly positive with the Cryptocurrency market to choose as an Investment option. In the last 9 weeks there has been a huge flow of investment.
James Butterfill , who is investment strategist at CoinShares, shared his point of view on the Investment & fund from financial institutions in the last 9 months.
According to James, most of the Investors are looking to invest in Cryptocurrency with a positive attitude and they don’t have any fear from Crypto Investment at high level.
The whole analysis of the last 9 weeks by James says, Bitcoin received Investment of $38.9 million officially.
While the trade volume in Bitcoin is very low in comparison with last year November 2020.
Reports say there is a drop of 38% in the volume of Bitcoin over last year’s comparison, which is a clear indication that people are not interested in trading. People want to buy and hold for the long term.
At second place this is Ethereum which hitted net gain of investment by $18 million ( comparison of last three week inflow and outflow).
Dot ( Polkadot ) , Ripple ( XRP) & Cardano ( ADA) gained inflows of US$2.1 million, US$1.2 million and US$0.7 million respectively.
And also we can see a recent report at the end of June, where Grayscale, Biggest investment fund manager company, reported that the third asset that they have in large amounts is Cardano.
Related: Grayscale’s Third-Largest Holding Is Cardano
They have invested around $29.8 billion in assets Which are Bitcoin , Ethereum, Cardano, XRP, BCH, LTC, Chain-link.
Obviously Bitcoin & Ethereum are top coins in their portfolio while Cardano is at third number.
In a recent report from German government we can see where the government is ready to allow financial institutions to invest in Cryptocurrency.
Read also: YouTube Accused For Million Token Pump & Dump Engineering
