Solana Continues to Be Favored by Institutional Investors Despite Declining Continue


Solana’s inflows have increased noticeably lately as the cryptocurrency has garnered the attention of institutional investors. The figures from last week indicate that this trend has maintained, with Solana receiving far more investments than other cryptocurrencies like Ethereum.

The latest CoinShares report indicates that $15.5 million was invested into Solana over the previous week. This occurred even though several alternative cryptocurrencies, including Ethereum, received weekly withdrawals. The same time period saw $7.4 million leave the Ethereum network.

Solana’s total assets under management (AuM) now amount to $74 million after the most recent influx of capital. Solana’s AuM is up 47% so far this year, while Ethereum’s has steadily declined to the tune of $119 million in withdrawals.

Cardano also had weekly inflows, although much smaller ones. The company received $1,000,000 in new funds, increasing its total AuM by $6,000,000 year-to-date to $24,000,000. With an increase of $0.9 million, their AuM for all investment products now stands at $76 million.

On the other hand, multi-asset products lost $600,000, much like Ethereum. This sends its AuM down $31 million year-to-date, to $1.17 billion.

Bitcoin’s weekly investment statistics during the same period as Solana’s were higher, proving Bitcoin’s superiority once again. The top cryptocurrency had inflows of $55.3m, increasing its AuM to $24.205b. Already this month, the asset has brought in a whopping $111.9 million for investors.

Similar to this, Bitcoin’s year-to-date inflows have remained robust, totaling $315 million. As a result, it is now more secure than ever before as the top asset in terms of institutional investor interest.

The increasing popularity of short Bitcoin products reflects this tendency. Weekly inflows have averaged $1.6 million and monthly inflows have totaled $4.5 million. It has raised $46 million so far this year, putting its AuM up to $99 million. Almost $33 billion may be found in the entire AuM of crypto investment products.

Following recent price recovery, total Assets under Management (AuM) have increased by 15% from their lows in early September, and currently amount to about US$33bn, the highest point since mid-August, according to a study by cryptocurrency investment firm CoinShares.

CoinShares suggests that the enthusiasm and expectation around the potential approval of a Spot Bitcoin ETF by the US Securities and Exchange Commission (SEC) may be responsible for the inflows. BlackRock, a large asset management, recently revealed that it has applied to launch a Spot Bitcoin exchange-traded fund (ETF).

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