The Wind of Solana Blows in Institutional Crypto Funds: The Exit Series is Over, It's Back to Bullish!

While the Bitcoin (BTC) price tried to stay above 57 thousand dollars after the recent sharp sales, an inflow of 441 million dollars was observed into corporate cryptocurrency funds.

Data shared by Coinshares stated that there was an inflow of $441 million into institutional cryptocurrency funds, which saw a small outflow of $30 million two weeks ago.

Following the approval of the Spot Bitcoin ETF, institutional interest in Bitcoin reached a high level. Although there was an outflow in Grayscale funds again last week, it seems that institutional investors have turned the recently falling prices into an opportunity. Apart from Grayscale, interest in other ETF issuers remained quite high. In parallel with this, the 3-week series of outflows from digital asset products was also disrupted.

Ethereum, which saw its biggest rise in the last 2 years last week, received demand from investors this week. While Bitcoin led the way in investments with $398 million, an inflow of $10.2 million was observed in Ethereum.

They collected Solana and other altcoins again

Institutional investors again collected the altcoins they bought despite the huge outflow in Ethereum last week. The most notable of these was Solana, which saw $16 million in inflows last week. Solana (SOL), Cardano (ADA), Polkadot (DOT, Ripple (XRP) and Litecoin (LTC) were in demand.

There was a money inflow of $16.3 million to Solana, $100 thousand to Cardano, $200 thousand to Polkadot, $400 thousand to Ripple and $900 thousand to Litecoin.

According to the Coinshares report, US investors were the country with the most inflows, and German investors were the country with the most outflows. The majority of these were inflows and outflows from spot Bitcoin ETF issuers.

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