<\/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 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<\/p>\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 Featured image from Outlook India, chart from Tradingview.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" 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\u2019s numbers which show a significant amount of inflows for Solana compared to the likes of Ethereum. Solana Inflows Reach $15.5 Million According to […]<\/p>\n","protected":false},"author":2,"featured_media":179682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-179681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=179681"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179681\/revisions"}],"predecessor-version":[{"id":179683,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179681\/revisions\/179683"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/179682"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=179681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=179681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=179681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Solana Inflows Reach $15.5 Million<\/h2>\n
SOL price sitting at $29.20 | Source: SOLUSD on Tradingview.com<\/a><\/pre>\n
Bitcoin Dominates Inflows<\/h2>\n