Institutional Crypto Investments Continue to Surge
CoinShares, a digital asset manager, has reported that for the eighth straight week, institutional crypto products have experienced significant inflows across the board. According to CoinShares’ Digital Asset Fund Flows report, institutional investors are consistently increasing their crypto allocations, with Solana (SOL) investment products leading the charge for altcoins.
Year-to-date inflows have reached a total of US $1.32 billion, with last week alone bringing in US $176 million of inflows.
The yearly inflows remain below those of 2021 and 2020, amounting to US $10.7 billion and US $6.6 billion, respectively.
ETPs continue to drive a surge in trading volumes, with weekly trading volumes averaging US $3 billion, double this year’s average of US $1.5 billion. Notably, ETP share of total crypto volumes has risen to an average of 11%, well above the long-term historical average of 3.4% and the averages seen in the 2020/21 bull market.
Bitcoin, Solana, and Altcoins Attract Institutional Inflows
Bitcoin saw inflows of $154.7 million, while Solana products attracted $13.6 million as the interest in this Ethereum competitor continues to grow. Ethereum enjoyed $3.3 million in inflows, while Litecoin (LTC), Cardano (ADA), and XRP products each brought in less than a million.
Hot Take
Institutional investors’ interest in crypto continues to grow, with significant inflows reported for the eighth straight week. Solana, Bitcoin, and Ethereum are leading the way, signaling increased adoption of digital assets among institutional investors.
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