A leading digital assets manager says that institutional investors are converging toward the safety of Bitcoin (BTC) as altcoins see very little capital flows.
In the newest Digital Asset Fund Flows Weekly report, CoinShares finds that the top crypto asset by market cap saw total inflows of $126 million last week, bringing its total inflows to $506 million on the year.
CoinShares says Bitcoin’s dominance of last week’s institutional attention stems from investors looking for a safe haven in the flagship crypto asset.
“Altcoins saw virtually no inflows last week, highlighting investors are flocking to the relative safety of Bitcoin.”
The crypto asset manager also says that Ethereum (ETH) is no exception to the trend, with ETH seeing its ninth straight week of outflows, signaling