Solana Remains Institutional Investors’ Favorite As Outflows Rock Bitcoin, Et...
Digital asset investment products have experienced a second consecutive week of outflows, but Solana looks to be bucking the trend. Notably, last week was full of outflows from cryptocurrency-based investment products, amounting to a substantial $726 million. The outflows were heavily concentrated in two of the largest and most prominent cryptocurrencies, Bitcoin and Ethereum, which […]
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Solana has gained the favor of institutional investors recently which has seen a marked increase in the amount of inflows that the altcoin has recorded. This trend has continued with last week’s numbers which show a significant amount of inflows for Solana compared to the likes of Ethereum. Solana Inflows Reach $15.5 Million According to data from the latest CoinShares report, the inflows into Solana for the last week came out to $15.5 million. This came while some altcoins such as Ethereum saw outflows for the week. For context, Ethereum outflows reached $7.4 million in the same time....
Institutional investor interest in bitcoin has mainly been fluctuating in the last month. As the market has gone through the different phases of bull and bear market, so have the sentiment of investors gone through positive and negative. For the past week, though, it seems the latter had eventually won through as outflows had rocked bitcoin, even at a time when the digital asset had done a relatively good job of holding above $20,000. Bitcoin Sees $21 Million In Outflows The most recent report from CoinShares regarding the investments of institutional investors shows a unique perspective....
Outflows have been the order of the day since the price of cryptocurrencies such as Bitcoin had begun to crash. The same sentiment had spread through individual as well as institutional investors, leading to massive sell-offs in the space. Despite the price of bitcoin recovering in recent times, it seems that the sellers are not done just yet as outflows had ramped up over the last week. $453 Million Leaves Bitcoin Bitcoin had been seeing a reversal trend with inflows coming in for the prior week. However, this has only been short-lived as outflows have continued to rock the digital asset.....
Solana represented one-third of total inflows to institutional crypto investment products this past week. Institutional investors are loading up on Solana (SOL), with one-third of inflows to crypto investment products being invested in instruments tracking Solana this past week.According to CoinShares’ Aug. 23 Digital Asset Fund Flows Weekly report, $7.1 million flowed into Solana investment products between Aug. 15 and Aug. 20.While the price of SOL gained a megre 1.4% on the spot markets over the same period, SOL has gained 110% from $35.58 since the start of August to trade for $75 as....
Bitcoin ETPs have become more popular than ever since the SEC approved multiple bitcoin ETPs in the fourth quarter of 2021. They had subsequently had a good run with hundreds of millions of dollars flowing into these ETPs. They provided a way for institutional investors and others who didn’t want any direct exposure to the digital asset to trade on it. However, it seems the wind is starting to change as outflows become the order of the day. Outflows Rock Bitcoin ETPs The market is still reeling from entering a new month but the effects of the month of April continue to linger. Being a....