Investors Favor Ethereum and Solana with Continued Inflows

Despite a correction in cryptocurrency prices, Ethereum and Solana saw net inflows last week. CoinShares’ latest Digital Asset Fund Flows Weekly Report revealed a total of $176 million in inflows into these investment products, demonstrating global investor interest.

Contrary to the dominance of Bitcoin, Ethereum-based investment products attracted the most inflows during the week.

Investors Favor Ethereum And Solana With Continued Inflows

Institutional Interest in Ethereum and Solana

Institutional investors continue to show confidence in digital assets’ long-term potential despite market fluctuations. The total Assets under Management (AuM) of investment products dropped from $95 billion to $75 billion due to the extended crypto market correction but have since rebounded to $85 billion, fueled by consistent inflows.

Trading volume in exchange-traded products (ETPs) surged to $19 billion last week, surpassing the $14 billion weekly average for the year. Ethereum-based products stood out as the primary beneficiaries of these inflows, marking a departure from Bitcoin’s traditional dominance.

Ethereum-based products received $155 million in inflows, comprising 88% of the total. In contrast, Bitcoin attracted $13 million in inflows. Solana-based products also saw $4.5 million in inflows.

Short-Bitcoin ETPs experienced significant outflows, with $16 million withdrawn, representing 23% of total assets under management for these products.

All regions reported inflows, with the US leading at $89 million. Switzerland, Brazil, and Canada also saw significant inflows.

Looking Ahead

The shift away from bearish strategies, evident in the outflows from Short-Bitcoin ETPs, mirrors renewed confidence in digital assets. The market appears to be recovering from corrections, with major cryptocurrencies showing gains in the past 24 hours.

Bitrabo Editorial
Bitrabo Editorial
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