{"id":9859,"date":"2021-09-14T10:31:37","date_gmt":"2021-09-14T09:31:37","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=9859"},"modified":"2021-09-14T10:31:43","modified_gmt":"2021-09-14T09:31:43","slug":"solana-recieves-a-surge-of-institutional-traders-as-demand-for-eth-and-btc-flattens","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/solana-recieves-a-surge-of-institutional-traders-as-demand-for-eth-and-btc-flattens\/","title":{"rendered":"Solana receives a surge of institutional traders as demand for ETH and BTC flattens"},"content":{"rendered":"\n
As demand for Ether (ETH) and Bitcoin (BTC) <\/a>exposure has levelled, institutional traders have flocked to Solana (SOL), accounting for a stunning 86.6% of total weekly crypto investment product inflows last week.<\/h5>\n\n\n\n
\"Solana<\/figure>\n\n\n\n

Solana (SOL) investment products had inflows of $49.4 million between Sept. 6 and Sept. 10, according to the Sept. 14 edition of CoinShares' Digital Asset Fund\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> Flows Weekly.<\/p>\n\n\n\n

The overall inflows for crypto investment products totalled $57 million for the week, with SOL accounting for 86.6 percent of total inflows, up 275 week over week.<\/p>\n\n\n\n

The surge in demand for Solana products coincided with a 36 percent increase in the price of SOL over the same time period. The report came to the following conclusion:<\/p>\n\n\n\n

\u201cA combination of price appreciation and inflows now brings Solana\u2019s assets under management to $97 million, the 5th largest of all investment products.\u201d<\/p><\/blockquote>\n\n\n\n

For the fourth week in a row, digital asset products have witnessed inflows, with demand for cryptocurrencies greatly outweighing the desire<\/a> for BTC products, which saw only $200,000 in inflows.<\/p>\n\n\n\n

Institutional investors sold $6.3 million worth of Ether exposure as the underlying asset's price fell 10% over the week, slightly offsetting the inflows.<\/p>\n\n\n\n

Despite Cardano's (ADA) much-anticipated debut of smart contracts on September 13, institutional flows into ADA-tracking products fell by 46% from the previous week.<\/p>\n\n\n\n

Ripple (XRP), Polkadot (DOT), and Bitcoin Cash (BCH) all experienced inflows of $3.2 million, $3.1 million, $1.7 million, and $600,000, respectively, in multi-asset products.<\/p>\n\n\n\n

Institutional asset managers now have a combined AUM of $56.3 billion, according to CoinShares estimates, down 9% from the week before as the broader crypto markets<\/a> witnessed a fall across the board.<\/p>\n\n\n\n

Asset managers had uneven flows, with CoinShares XBT and Purpose funds losing $24.7 million and $45.5 million, respectively, while 21Shares, ETC Group, and CoinShares received $75 million, $13 million, and $6.1 million inflows.<\/p>\n\n\n\n

Grayscale, the top institutional manager, maintained its dominance, accounting for 74 percent of the sector's AUM ($41.8 billion).<\/p>\n\n\n\n

On September 13, Grayscale announced a cooperation with iCapital Network, a supplier of alternative asset fintech. The agreement would allow iCapital's advisors to provide Grayscales' digital asset services<\/a> to the firm's high-net-worth clients through a diversified market-cap-weighted investment strategy.<\/p>\n","protected":false},"excerpt":{"rendered":"

As demand for Ether (ETH) and Bitcoin (BTC) exposure has levelled, institutional traders have flocked to Solana (SOL), accounting for a stunning 86.6% of total weekly crypto investment product inflows last week. Solana (SOL) investment products had inflows of $49.4 million between Sept. 6 and Sept. 10, according to the Sept. 14 edition of CoinShares’ […]<\/p>\n","protected":false},"author":12,"featured_media":9867,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81,83,23],"tags":[152,128,275],"class_list":["post-9859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","category-bitcoin-news","category-ethereum-news","tag-bitcoin","tag-ethereum","tag-solana"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/Solana-recieves-a-surge-of-institutional-traders-as-demand-for-ETH-and-BTC-flattens-scaled.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=9859"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/9867"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=9859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=9859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=9859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}