Demand For ETH & BTC Flattens As Institutional Traders Flock To Solana.

Demand For ETH & BTC Flattens As Institutional Traders Flock To Solana.

2021-09-15 | Robin Williams

Demand For ETH & BTC Flattens As Institutional Traders Flock To Solana.

Solana investment products Institutions were betting big on last week, Institutional inflows to digital asset products with SOL-tracking products attracting 86.6% last week. Ether [ETH] and Bitcoin [BTC] exposure have flattened because institutional traders have flocked to Salona (SOL) as demand, total weekly inflows crypto investment products with 86.6%  representing a whopping with SOL investment products last week. Solana (SOL) investment products saw inflows of $49.4 million between Sept. 6 and Sept.10  as per the Sept. 14 issue of CoinShares’ Digital Asset Fund Flows WeeklyWith SOL seeing a 275% week-over-week increase to represent 86.6% of total inflow for crypto investment products equals to $57 of the total combined inflows for the week. The price of SOL gaining 36% over the same period has coincided with the surging inflows to Solana products. For the fourth consecutive week, inflows have been seen now for digital asset products,  BTC products that saw minimal inflows of $200,000 in demand for altcoins significantly outweighing the appetite. Institutional investors offloading $6.3 million worth Ether exposure offset to the partially inflows, as the underlying asset’s price dropped 10% during the week.  Institutional asset managers currently represent a total AUM of $56.3 billion combined as per the CoinShares predictions— marking a decrease of 9% compared to the week before as the broader crypto markets experienced a pullback across the board, representing 74% of sectors AUM with $41.8 billion.

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