Cointelegraph Team
Cointelegraph
Institutions were betting big on Solana investment products last week, with SOL-tracking products attracting 86.6% of institutional inflows to digital asset products last week.
Institutional traders have flocked to Solana (SOL) as demand for Ether (ETH) and Bitcoin (BTC) exposure has flattened, with SOL investment products representing a whopping 86.6% of total weekly inflows crypto investment products last week.
According to the Sept. 14 issue of CoinShares’ Digital Asset Fund Flows Weekly, Solana (SOL) investment products saw inflows of $49.4 million between Sept. 6 and Sept.10. The combined total inflows for crypto investment products equated to $57 million for the week, with SOL seeing a 275% week-over-week increase to represent 86.6% of total inflow.
The surging inflows to Solana products coincided with the price of SOL gaining 36% over the same period. The report concluded:
A combination of price appreciation and inflows now brings Solana’s assets under management to $97 million, the 5th largest of all investment products.
Digital asset products have now seen inflows for the fourth consecutive week, with demand for altcoins significantly outweighing the appetite for BTC products which saw minimal inflows of $200,000.
The inflows were also partially offset by institutional investors offloading $6.3 million worth Ether exposure as the underlying asset’s price dropped 10% during the week.
Despite Cardano (ADA)’s highly anticipated introduction of smart contracts on Sept. 13, institutional flows ADA-tracking products saw a 46% decrease in inflows compared to the previous week.
Multi-asset products, Ripple (XRP), Polkadot (DOT) and Bitcoin Cash (BCH) also saw inflows of $3.2 million, $3.1 million, $1.7 million and $600,000 respectively.
According to CoinShares estimates, institutional asset managers currently represent a total AUM of $56.3 billion combined – marking a decrease of 9% compared to the week before as the broader crypto markets experienced a pullback across the board.
Flows were mixed between asset managers, with CoinShares XBT and Purpose funds shedding $24.7 million and $45.5 million respectively while 21Shares, ETC Group and CoinShares saw inflows of $75 million, $13 million and $6.1 million respectively.
Top Institutional manager Grayscale remained dominant, representing 74% of sectors AUM with $41.8 billion.
Grayscale announced a partnership with alternative asset fintech provider iCapital Network on Sept. 13. The deal will enable iCapital's advisors to offer the firm’s high-net-worth clients access to Grayscales’ digital asset services via a diversified market-cap-weighted investment strategy.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
Shiba Inu eyes positive returns in April as SHIB price inches towards $0.000015
Shiba Inu's on-chain metrics reveal robust adoption, as addresses with balances surge to 1.4 million. Shiba Inu's returns stand at a solid 14.4% so far in April, poised to snap a three-month bearish trend from earlier this year.
AI tokens TAO, FET, AI16Z surge despite NVIDIA excluding crypto-related projects from its Inception program
AI tokens, including Bittensor and Artificial Superintelligence Alliance, climbed this week, with ai16z still extending gains at the time of writing on Friday. The uptick in prices of AI tokens reflects a broader bullish sentiment across the cryptocurrency market.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday.
XRP price could renew 25% breakout bid on surging institutional and retail adoption
Ripple price consolidates, trading at $2.18 at the time of writing on Friday, following mid-week gains to $2.30. The rejection from this weekly high led to the price of XRP dropping to the previous day’s low at $2.11, followed by a minor reversal.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.