Cardano, Solana and XRP See Institutional Inflows While Bitcoin and Ethereum Investments Slide: CoinShares - The Daily Hodl

The Daily Hodl
The Daily Hodl

18 Sep 2023 6:41 PM

Digital assets manager CoinShares reports that Cardano (ADA), Solana (SOL) and XRP products are bucking the trend of an otherwise pessimistic institutional investment climate....

  • Digital assets manager CoinShares reports that Cardano (ADA), Solana (SOL), and XRP products are defying the pessimistic institutional investment climate.
  • Outflows of digital assets have been observed over eight of the last nine weeks, totaling over $450 million.
  • Bitcoin (BTC) experienced the heaviest outflows, comprising 85% of the total outflows.
  • Ethereum (ETH) products saw outflows of nearly $5 million, while Binance Coin (BNB) and Polygon (MATIC) lost $0.3 million each.
  • However, Solana (SOL), Cardano (ADA), and XRP products saw inflows totaling $0.7 million, $0.4 million, and $0.1 million, respectively.

The sentiment of the article is mostly negative, highlighting the outflows of digital assets and the decline in net inflows. However, it also mentions the positive inflows observed for Cardano, Solana, and XRP products.

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You May Ask

Which digital assets are bucking the trend of pessimistic institutional investment?How much were the outflows of digital assets over the past nine weeks?Which cryptocurrency experienced the heaviest outflows?Which altcoins saw inflows despite the overall outflow trend?What is the sentiment of the article regarding the investment climate for digital assets?

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