Solana Sees Nearly $50M In Weekly Institutional Inflows

Institutional interest in Solana SOL/USD remains high, as SOL investment products saw close to $50 million in inflows last week.

What Happened: According to a new CoinShares report monitoring weekly digital asset fund flows, inflows to Solana amounted to $49.5 million, far exceeding any other digital asset.

“During last week’s price falls Solana’s price was a stalwart, outperforming a basket of the top 10 digital assets by 34%, having risen 24% week-on-week,” noted CoinShares.

The week’s gargantuan inflows coupled with Solana’s price appreciation has brought the total assets under management for Solana products to a total of $97 million — the fifth-largest of all crypto investment products.

The leading digital asset Bitcoin BTC/USD recorded only $200,000 in weekly inflows. Ethereum ETH/USD saw outflows totaling $6.3 million over the week.

Other altcoins like Cardano ADA/USD, XRP XRP/USD, and Polkadot DOT/USD saw weekly inflows totaling $3.5 million, $3.1 million, and $1.7 million, respectively.

Price Action: At press time, Solana was trading at a price of $158.91, down 0.65% over 24 hours.