Institutional investors have shifted their attention from Ethereum (ETH) to competing Layer 1 blockchains of late, with capital inflows for altcoin investment products increasing last week whilst Ether products posted outflows for the third week in a row.
Data from CoinShares’ latest Digital Asset Fund Flows report shows that investors last week (ending April 22) loaded up on $3.5 million worth of Avalanche (AVAX), Solana (SOL), Terra (LUNA) and Algorand (ALGO) funds whilst capital outflows from Ether products totaled $16.9 million.