While signals are coming that Bitcoin has come out of the bear market and entered the bull market, institutional investors are considering which cryptocurrencies to add to their portfolio.
At this point, while some institutional investors are waiting for 2024 to buy BTC and altcoins, some have already started buying.
In the long-running SEC-XRP case, the judge decided in favor of Ripple, and there were increases in Bitcoin and altcoins such as SOL, Cardano (ADA), especially XRP.
According to the news of Coindesk, institutional investors who have turned these rises into opportunities have invested in XRP, Stellar (XLM) and Solana (SOL) based products this year.
The research by CCData reported the altcoin trends of institutional investors.
Accordingly, institutional investors' assets-under-management (AUM) for XRP, XLM and SOL-linked mutual funds rose in July.
The report stated that this increase in AUM came after the judge's XRP decision in favor of Ripple.
XLM products in assets under management reached $17.3 million, increasing its investment in Grayscale XLM-based products by 62.7%.
Apart from XLM, Graysclae increased its investment in XRP and SOL-based products by 33.2% and 55.7%, respectively, reaching $65.7 million and $87.8 million in AUM, respectively.
The fact that the FED interest rate decision announced yesterday came as expected had a partially positive effect on BTC and altcoins, and in the last 24 hours, XRP was 2.3%; XLM 14.25%; SOL, on the other hand, increased by 7.6%.
*Not investment advice.
