Solana attracts more investors, funds grow as bitcoin, ethereum and cardano see outflows

Last week Bitcoin (BTC) investment products finally saw net inflows again after eight weeks of outflows. Total inflows into cryptocurrency products then reached $98 million and bitcoin reached $59 million, both the highest since mid-May.

Last week, however, that dropped again, investment firm CoinShares reported on September 13. Net inflows for bitcoin funds last week came in at just $0.2 million and ethereum (ETH) funds even saw a net outflow of $6.3 million.

In contrast, solana (SOL) is becoming increasingly popular among institutional investors. Solana funds saw a net inflow of $49.4 million last week, in fact 86.4% of the total $57.2 million inflow of crypto products between September 6 and 10.

That brings the total assets under management (AUM), or assets under management, for solana products to $97 million. That makes solana the fifth largest crypto among investment products, according to CoinShares. The SOL price had risen by 50% between 6 and 10 September to a all time high (ATH) of $213.5.

In addition, there were also positive inflows for a few other crypto funds. Cardano (ADA) products saw net inflows of $3.5 million, followed by ripple (XRP) at $3.1 million and polkadot (DOT) at $1.7 million. Last week was the fourth week in a row of net inflows for all crypto producers, before that there was a net outflow for six weeks in a row.

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Furthermore, CoinShares reports that the volume of crypto funds has increased by a whopping 143% since its low in early July to $3.8 billion. It is a sign that (institutional) investors are gradually becoming more active after a somewhat slow and stagnant summer, according to the asset manager.

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