Bitcoin price surpassed $52,000 on Monday for the first time in 4 months after a huge jump in demand from retail and institutional investors.

The price is currently falling to the level of 50 thousand dollars.

Individual demand for bitcoin has been on the rise since the beginning of August 2021, but institutional demand struggled during the first three weeks of last month.

However, the latest weekly report on fund flows to digital assets that posted by CoinShares highlighted a sharp increase in institutional flows of bitcoin-related investment products.

The cryptocurrency attracted nearly $59 million in institutional inflows last week.

Overall, crypto investment products have seen inflows of $98 million over the past week.

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Regardless of Bitcoin, Ethereum, Solana, Cardano, Polkadot, and Ripple all attracted significant inflows during the mentioned period.

CoinShares reported:

Bitcoin saw inflows totaling $59 million, representing a potential shift in sentiment among investors.

These are the first inflows after an 8-week period of outflows, and are the longest borne by any digital asset investment product.

Solana remains the favourite, with weekly inflows totaling $13.2 million last week, doubling the total year-to-date inflows.

While assets under management grew from $15 million in the previous week to $44 million last week.

In its previous weekly report on fund flows to digital assets, CoinShares highlighted record inflows for Cardano’s investment products.

Cardano attracted more than $10 million in inflows during the last week of August 2021.

Bitcoin vs Altcoins:

The latest data from CoinShares shows that institutional interest in the cryptocurrency market is now more diversified.

Altcoins now account for a record 35% of all digital asset investment products.

Regardless of Bitcoin, institutional investors are starting to diversify their portfolios by investing in Ethereum, Solana, Cardano, and Ripple.

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Ethereum saw its third week of inflows totaling $14.4 million, while its market share reached 28%, highlighting that while some investors have concerns regarding the protocol, its dominance continues to rise.

According to CoinShares:

Other cryptocurrencies, such as Cardano, Polkadot and Ripple, saw notable inflows of $6.5 million, $2.7 million and $1.2 million, respectively.

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