The crypto market witnessed a major turnaround in sentiment recently. During the latest week, institutional crypto inflows saw a boost as the digital asset investment products attracted $193 million, the highest inflows since mid-December 2021.
Bitcoin led the latest recovery as the world’s most dominant crypto asset saw weekly inflows worth $98 million. So far in 2022, BTC investment products have attracted a total of $162 million in net inflows.
Cryptocurrency Solana witnessed a major boom in weekly inflows. Institutional investors poured $87 million into SOL-related investment products, the highest weekly inflows on record for the 9th most valuable digital asset.
“Digital asset investment products saw inflows totaling US$193m last week, the largest since mid-December 2021. Following last week’s price recovery total assets under management (AuM) now sit at US$57bn. Regionally, the majority (76%) of inflows came from Europe at US$147m, while the Americas lagged at US$45m, with some providers continuing to see minor outflows. Trading volumes recovered to US$2.5bn for the whole of last week,” CoinShares noted in its weekly report.
Altcoins
In addition to record inflows in Solana, other digital assets like Cardano and Polkadot also gained traction among institutional investors. Inflows in ADA and DOT investment products totaled $1.8 million and $1.2 million, respectively. Ethereum saw inflows worth $10 million last week. In 2022, ETH remained one of the worst performing digital assets with a price dip of nearly 20%. The trend was evident across the institutional market as well.
So far in 2022, ETH-related investment products saw outflows worth $141 million, compared to the inflows of $162 million in Bitcoin products. ETH’s competitors like Solana are getting popular among institutional players.
“Solana saw the largest single week of inflows on record totaling US$87m, representing 36% of assets under management. AuM now sits at US$241m, making it the 5th largest investment product and the largest single altcoin other than Ethereum,” the report added.
The crypto market witnessed a major turnaround in sentiment recently. During the latest week, institutional crypto inflows saw a boost as the digital asset investment products attracted $193 million, the highest inflows since mid-December 2021.
Bitcoin led the latest recovery as the world’s most dominant crypto asset saw weekly inflows worth $98 million. So far in 2022, BTC investment products have attracted a total of $162 million in net inflows.
Cryptocurrency Solana witnessed a major boom in weekly inflows. Institutional investors poured $87 million into SOL-related investment products, the highest weekly inflows on record for the 9th most valuable digital asset.
“Digital asset investment products saw inflows totaling US$193m last week, the largest since mid-December 2021. Following last week’s price recovery total assets under management (AuM) now sit at US$57bn. Regionally, the majority (76%) of inflows came from Europe at US$147m, while the Americas lagged at US$45m, with some providers continuing to see minor outflows. Trading volumes recovered to US$2.5bn for the whole of last week,” CoinShares noted in its weekly report.
Altcoins
In addition to record inflows in Solana, other digital assets like Cardano and Polkadot also gained traction among institutional investors. Inflows in ADA and DOT investment products totaled $1.8 million and $1.2 million, respectively. Ethereum saw inflows worth $10 million last week. In 2022, ETH remained one of the worst performing digital assets with a price dip of nearly 20%. The trend was evident across the institutional market as well.
So far in 2022, ETH-related investment products saw outflows worth $141 million, compared to the inflows of $162 million in Bitcoin products. ETH’s competitors like Solana are getting popular among institutional players.
“Solana saw the largest single week of inflows on record totaling US$87m, representing 36% of assets under management. AuM now sits at US$241m, making it the 5th largest investment product and the largest single altcoin other than Ethereum,” the report added.
Source: https://www.financemagnates.com/cryptocurrency/news/crypto-products-attract-largest-weekly-inflows-since-december-2021/