{"id":31350,"date":"2023-10-23T20:52:37","date_gmt":"2023-10-24T00:52:37","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31350"},"modified":"2023-10-23T20:52:37","modified_gmt":"2023-10-24T00:52:37","slug":"solana-remains-institutional-investor-darling-as-inflows-continue","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/23\/solana-remains-institutional-investor-darling-as-inflows-continue\/","title":{"rendered":"Solana Remains Institutional Investor Darling As Inflows Continue"},"content":{"rendered":"

Solana has gained the favor of institutional investors<\/a> recently which has seen a marked increase in the amount of inflows that the altcoin<\/a> has recorded. This trend has continued with last week\u2019s numbers which show a significant amount of inflows for Solana compared to the likes of Ethereum.<\/p>\n

Solana Inflows Reach $15.5 Million<\/h2>\n

According to data from the latest CoinShares report<\/a>, the inflows into Solana for the last week came out to $15.5 million. This came while some altcoins<\/a> such as Ethereum<\/a> saw outflows for the week. For context, Ethereum outflows reached $7.4 million in the same time frame.<\/p>\n

As a result of the latest round of inflows, the total Solana Asses under Management (AuM) has reached $74 million. This means that the Solana AuM is up 47% year-to-date, compared to Ethereum\u2019s which has dropped continuously this year, climbing to $119 million in outflows year-to-date.<\/p>\n

Cardano is another altcoin<\/a> that saw inflows for the week but to a lesser degree. Its inflows were $0.1 million, bringing its total AuM to $24 million, with a $6 million increase year-to-date. Other investment products saw $0.9 million, leading their AuM to reach $76 million.<\/p>\n

Multi-asset products, however, went the way of Ethereum<\/a> with outflows of $0.6 million. This brings its AuM to $1.17 billion, a $31 million decrease year-to-date.<\/p>\n\n

Bitcoin Dominates Inflows<\/h2>\n

For the same week, Bitcoin<\/a> once again came out ahead in terms of inflows, with numbers topping that of Solana. The leading cryptocurrency<\/a> saw $55.3 million in inflows, bringing its AuM to $24.205 billion. The asset\u2019s month-to-date inflows are currently sitting at an impressive $111.9 million.<\/p>\n

In the same vein, Bitcoin\u2019s<\/a> year-to-date inflows have also remained on the high side with $315 million in inflows so far. This has further solidified its position as the leading asset with the most interest from institutional investors so far.<\/p>\n

Short Bitcoin products were also not left out of the inflow trend. Its weekly inflows sit at $1.6 million, while the month-to-date inflows came out to $4.5 million. Its year-to-date inflows sit at $46 million, bringing its AuM to $99 million. In total, the AuM of crypto investment products is nearly $33 billion.<\/p>\n

\u201cFollowing recent price appreciation, total Assets under Management (AuM) have risen by 15% since their lows in early September, now totalling nearly US$33bn, the highest point since mid-August,\u201d the CoinShares report said.<\/p>\n

CoinShares also notes that the inflows could be linked to the excitement and anticipation of a Spot Bitcoin ETF<\/a> being approved by the US Securities and Exchange Commission (SEC). However, the numbers are much lower compared to when asset manager BlackRock first announced that it had filed for a Spot Bitcoin ETF<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana has gained the favor of institutional investors<\/a> recently which has seen a marked increase in the amount of inflows that the altcoin<\/a> has recorded. This trend has continued with last week\u2019s numbers which show a significant amount of inflows for Solana compared to the likes of Ethereum.<\/p>\n

Solana Inflows Reach $15.5 Million<\/h2>\n

According to data from the latest CoinShares report<\/a>, the inflows into Solana for the last week came out to $15.5 million. This came while some altcoins<\/a> such as Ethereum<\/a> saw outflows for the week. For context, Ethereum outflows reached $7.4 million in the same time frame.<\/p>\n

As a result of the latest round of inflows, the total Solana Asses under Management (AuM) has reached $74 million. This means that the Solana AuM is up 47% year-to-date, compared to Ethereum\u2019s which has dropped continuously this year, climbing to $119 million in outflows year-to-date.<\/p>\n

Cardano is another altcoin<\/a> that saw inflows for the week but to a lesser degree. Its inflows were $0.1 million, bringing its total AuM to $24 million, with a $6 million increase year-to-date. Other investment products saw $0.9 million, leading their AuM to reach $76 million.<\/p>\n

Multi-asset products, however, went the way of Ethereum<\/a> with outflows of $0.6 million. This brings its AuM to $1.17 billion, a $31 million decrease year-to-date.<\/p>\n

Bitcoin Dominates Inflows<\/h2>\n

For the same week, Bitcoin<\/a> once again came out ahead in terms of inflows, with numbers topping that of Solana. The leading cryptocurrency<\/a> saw $55.3 million in inflows, bringing its AuM to $24.205 billion. The asset\u2019s month-to-date inflows are currently sitting at an impressive $111.9 million.<\/p>\n

In the same vein, Bitcoin\u2019s<\/a> year-to-date inflows have also remained on the high side with $315 million in inflows so far. This has further solidified its position as the leading asset with the most interest from institutional investors so far.<\/p>\n

Short Bitcoin products were also not left out of the inflow trend. Its weekly inflows sit at $1.6 million, while the month-to-date inflows came out to $4.5 million. Its year-to-date inflows sit at $46 million, bringing its AuM to $99 million. In total, the AuM of crypto investment products is nearly $33 billion.<\/p>\n

\u201cFollowing recent price appreciation, total Assets under Management (AuM) have risen by 15% since their lows in early September, now totalling nearly US$33bn, the highest point since mid-August,\u201d the CoinShares report said.<\/p>\n

CoinShares also notes that the inflows could be linked to the excitement and anticipation of a Spot Bitcoin ETF<\/a> being approved by the US Securities and Exchange Commission (SEC). However, the numbers are much lower compared to when asset manager BlackRock first announced that it had filed for a Spot Bitcoin ETF<\/a>.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31350","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31350"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31350\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31350"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}