Solana (SOL) Leads Institutional Altcoin Investments As Crypto Markets See Eight Straight Weeks of Inflows: CoinShares - The Daily Hodl
Digital assets manager CoinShares says institutional crypto products saw heavy inflows across the board last week for the eighth consecutive week....
- Institutional crypto products saw heavy inflows for the eighth consecutive week, with a total of $176 million in inflows last week.
- Solana (SOL) investment products led the way for altcoins in terms of allocations by institutional investors.
- Year-to-date inflows for digital asset investment products reached $1.32 billion, but remain behind the inflows seen in 2021 and 2020.
- Trading volumes in exchange-traded product (ETP) have doubled this year's average, with an average of $3 billion per week.
- Bitcoin (BTC) had the highest inflows at $154.7 million, followed by Solana with $13.6 million, Ethereum with $3.3 million, and other altcoins with less than a million each.
The article highlights positive trends in institutional crypto investments, with consecutive weekly inflows and increased trading volumes in ETPs. However, it also notes that the inflows are lower compared to previous years.