As interest in Bitcoin and Ethereum dropped during the previous week, institutional inflows into Cardano investment products have increased.
According to data from CoinShares, institutional investment managers acquired $10 million worth of ADA products for the week ending May 24th. In fact, Cardano investment funds have enjoyed more capital than any other digital asset.
During the same period of time, Ether registered an outflow of $12.6 million and Bitcoin of $110.9 million.
CoinShares also reported that investors financed Polkadot funds with $5.5 million and multi-asset investment products registered $7.1 million.
Still, in the year-to-date, Cardano investment products are below Bitcoin and Ether, which have drawn $4.13 billion, and $924 million, respectively, compared to the $24 million registered by Cardano.
“Cardano saw the largest inflows of US$10m, which may represent investors actively choosing proof of stake coins based on environmental considerations,” reads a statement from CoinShares.
Source: CoinTelegraph.com