Bitcoin (BTC) Remains the Preferred Choice for Institutional Investment

Cryptocurrency asset management firms around the world saw record inflows in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term investment products during the last few weeks. The total value of global BTC assets under management now stands at around $53 billion.

Bitcoin products attracted $269 million worth of institutional inflows in the last week of October. Overall, digital asset investment products saw inflows worth $288 million in the mentioned period. During the latest bullish run, investors poured billions of dollars into crypto-related investment products, specifically Bitcoin.

The recent digital asset fund flows report by CoinShares highlights that Bitcoin remained the preferred choice for large institutional investments. During the first 10 months of 2021, BTC investment products saw inflows worth $6.3 billion.

“Digital asset investment products saw inflows totaling US$288m last week, bringing the total inflows year-to-date to a record US$8.7bn, already 30% higher than the total for 2020. Bitcoin saw the majority of inflows totaling US$269m last week bring total inflows for October to US$2bn. Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term broke its 3-week dry spell with inflows totaling US$17m last week with year-to-date inflows now totaling US$1bn. Last week’s outperformance of altcoins, in general, led to Ethereum’s market share rising back to 32%,” CoinShares mentioned in its report.

Bitcoin’s Market Dominance and Altcoins

In terms of market cap, Bitcoin is a dominant force in the global crypto ecosystem. BTC’s dominance also remained evident in the weekly cryptocurrency inflows throughout 2021. The total value of global crypto assets under management (AUM) crossed $78.7 billion last week. Bitcoin accounts for nearly 70% of the overall digital AUM.

Apart from BTC, other digital assets like Solana, Cardano, and Polkadot gained popularity among institutional investors during the past week. “Other altcoins saw inflows, most notably Solana, Cardano and Polkadot which saw inflows totaling US$15m, US$5m and US$6.2m, respectively. Multi-asset investment products saw outflows totaling a record US$23m, in what is now a 3-week run of outflows. We believe investors are currently preferring single-line exposure and are becoming more discerning over their altcoin exposure,” CoinShares added.