Ethereum

Solana

United

Bitcoin

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/ethereum-rival-gaining-traction-with-institutional-investors-coinshares-report/">Ethereum Rival Gaining Traction with Institutional Investors: Coinshares Report</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p>
<p>In recent developments, CoinShares, a leading digital asset investment firm, has <a href="https://blog.coinshares.com/volume-152-digital-asset-fund-flows-weekly-report-2dc8d161b9d4" rel="noopener noreferrer nofollow">reported</a> a surge of interest in a prominent Ethereum competitor among institutional investors. Digital asset investment products are making waves in the financial world, with two consecutive weeks of remarkable inflows totaling a staggering $78 million. Additionally, trading volumes for Exchange-Traded Products (ETPs) have witnessed a notable 37% surge, reaching a substantial $1.13 billion within a mere week.</p>
<h3 class="wp-block-heading" id="strong-bitcoin-s-mixed-fortunes-strong"><strong>Bitcoin’s Mixed Fortunes</strong></h3>
<p>Bitcoin, the pioneer of cryptocurrencies, has also demonstrated its resilience with $43 million in new investments. Nevertheless, some investors leveraged Bitcoin’s recent price uptick to place bets on its decline, resulting in $1.2 million invested in “short” positions, which yield profits if Bitcoin’s price falls. As of the latest data, Bitcoin is trading at $27,600, reflecting a more than two percent decrease.</p>
<h3 class="wp-block-heading" id="strong-solana-s-surging-popularity-strong"><strong>Solana’s Surging Popularity</strong></h3>
<p>Solana, an emerging player in the cryptocurrency arena, experienced an influx of funds totaling $24 million. This marked Solana’s most significant week of inflows since March 2022. The sustained interest in Solana underscores its growing appeal as an alternative cryptocurrency investment, especially after recent Ethereum product launches. However, it’s worth noting that Solana currently faces a decline of more than five percent, with a trading price of $22.</p>
<h3 class="wp-block-heading" id="strong-regional-trends-strong"><strong>Regional Trends</strong></h3>
<p>The report reveals notable regional disparities in cryptocurrency investments, with a substantial 90% of inflows originating from Europe. In stark contrast, the United States and Canada collectively saw a more modest $9 million inflows. This regional divide suggests an ongoing divergence in sentiment among cryptocurrency investors.</p>
<h2 class="wp-block-heading" id="h-etfs-and-ethereum"><strong>ETFs and Ethereum</strong></h2>
<p>In the United States, Ethereum investment funds in exchange-traded Funds (ETFs) were recently launched. However, these ETFs did not garner as much interest as their Bitcoin counterparts did during their initial launch, amassing just $10 million in the first week. It’s essential to consider that the current digital asset landscape is less enthusiastic than previous periods.</p>
<blockquote class="wp-block-quote">
 <p>The report concludes, “Last week served as a crucial litmus test for Ethereum’s investor appetite following the launch of six futures-based ETFs in the US. The new ETFs managed to attract just under US$10 million in their inaugural week, highlighting a subdued appetite for Ethereum investments at the moment.”</p>
</blockquote>
<p>In summary, the cryptocurrency market continues to witness dynamic shifts in investor preferences, with notable movements in Bitcoin, Ethereum, and Solana. Regional variations and the lukewarm response to Ethereum ETFs underscore the evolving landscape of digital asset investments.</p>

Ethereum Rival Gaining Traction with Institutional Investors: Coinshares Report

Table of Contents

CoinPedia News

Other articles published on Oct 10, 2023

Let’s become a smart learner with the Edufex.

Bitcoin: BitVM Introduces Ethereum-Inspired Smart Contracts

Lumen To Announce Its Earnings, Will LUMN Stock Hit $2 Levels?

Solana Becoming Altcoin of Choice As Weekly Inflows Peaked

XRP Whales Continue Amassing Despite Lower Overall Activity, Here’s How Much They Hold

Majority of Organizations Are Piloting Generative AI — But Where Exactly?

Join our free newsletter for daily crypto updates!