Institutional Money: Bitcoin and Ethereum Are On The Move

According to digital asset investment firm, CoinShares, Bitcoin and Ethereum had outflows while Cardano, and Stellar had inflow last week.

Reports published each week by the CoinShares Digital Asset Fund show the current sentiment of institutional investors. The last report shows one interesting situation. Bitcoin and Ethereum have a large money outflow while Cardano and Stellar have become interesting to institutional investors, and have had an inflow of money.

CoinShares report

The market situation has changed in the last month. After six months of large price increases, there has been a large drop in prices. Bitcoin has fallen in value by more than 50%. This is also evident in the weekly CoinShares Digital Asset Fund of money flow report.

The following figure below shows that there has been a continuous flow of money from institutional investors in Crypto Assets for a whole year. Until the 20th week of this year. The figure shows outflow in the 20th, 21st, 23rd, and 24th week of this year.

Last month was a big outflow of money in Digital asset investment products, totaling $132m. This week Digital asset investment products saw outflows of $21m. Ethereum had the largest outflows last week, totaling $12m. Also, Bitcoin and Ripple had outflow. Interestingly, other Digital asset products like Cardano, Stellar, Litecoin, and Bitcoin Cash, had inflows. Cardano and Stellar had the largest inflows; Cardano $1.7m, and Stellar $1m.

CoinShares Report Analysis

The last month was a big drop in value for all cryptocurrencies, and there is great uncertainty in the market. The total outflows of Bitcoin since mid-May is $267, with a record of $141m 2 weeks ago. Last week the outflows were $9.9m. A decrease in the outflows trend may mean that peak bearishness has been reached.

It can be said that this situation is surprising where institutional money comes out of Bitcoin and Ethereum, and enters other Digital Asset products. The biggest surprise is the moment it came: a time of big price drops and great uncertainty. Cardano and Stellar are great projects with great fundamentals and big partnerships. As such, we can say that it was only a matter of time before institutional investors would recognize them.

The amount that went into Cardano and Stellar from institutional investors is $ 2.7m, and the amount that came out of Bitcoin and Ethereum is $21m. The amount that went into Cardano and Stellar is 10 percent of the amount that came out of Bitcoin and Ethereum. That amount is not large, but it is significant. Significant because it represents a possible change of trend and sentiment of institutional investors. Institutional investors may be turning to other Digital asset products, which can mean great opportunities for others, not just Cardano and Stellar.

At this point, we can say that we have two signals that we can read from the weekly CoinShares report. The first signal is the possibility that we have reached the bearishness peak, and the second is a possible change in the trend and sentiment of institutional investors. This week is very important for further judgments. We need to see the next weekly report from Coinshares, so we can confirm that the last report was a moment of trend change.

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