{"id":338863,"date":"2021-09-14T04:32:09","date_gmt":"2021-09-14T01:32:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/institutional-traders-flock-to-solana-as-demand-for-eth-and-btc-flattens\/"},"modified":"2021-09-14T04:32:09","modified_gmt":"2021-09-14T01:32:09","slug":"institutional-traders-flock-to-solana-as-demand-for-eth-and-btc-flattens","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/institutional-traders-flock-to-solana-as-demand-for-eth-and-btc-flattens\/","title":{"rendered":"# Institutional traders flock to Solana as demand for ETH and BTC flattens"},"content":{"rendered":"

“# Institutional traders flock to Solana as demand for ETH and BTC flattens <\/strong>”
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Institutional traders have flocked to Solana (SOL) as demand for Ether (ETH) and Bitcoin (BTC) exposure has flattened, with SOL investment products representing a whopping 86.6% of total weekly inflows crypto investment products last week.<\/p>\n

According to the Sept. 14 issue of CoinShares\u2019 Digital Asset Fund Flows Weekly, <\/em>Solana (SOL) investment products saw<\/a> inflows of $49.4 million between Sept. 6 and Sept.10. The combined total inflows for crypto investment products equated to $57 million for the week, with SOL seeing a 275% week-over-week increase to represent 86.6% of total inflow. <\/p>\n

The surging inflows to Solana products coincided with the price of SOL gaining 36% over the same period. The report concluded:<\/p>\n

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

Digital asset products have now seen inflows for the fourth consecutive week, with demand for altcoins significantly outweighing the appetite for BTC products which saw minimal inflows of $200,000. <\/p>\n

The inflows were also partially offset by institutional investors offloading $6.3 million worth Ether exposure as the underlying asset\u2019s price dropped 10% during the week. <\/p>\n

Despite Cardano (ADA)\u2019s highly anticipated introduction of smart contracts on Sept. 13, institutional flows ADA-tracking products saw a 46% decrease in inflows compared to the previous week.<\/p>\n

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

Related: <\/em><\/strong>Finance Redefined: DeFi\u2019s $4M lobsters and Solana gaming, Sept. 6\u201310<\/em><\/strong><\/p>\n

According to CoinShares estimates, institutional asset managers currently represent a total AUM of $56.3 billion combined \u2014 marking a decrease of 9% compared to the week before as the broader crypto markets experienced a pullback across the board. <\/p>\n

Flows were mixed between asset managers, with CoinShares XBT and Purpose funds shedding $24.7 million and $45.5 million respectively while 21Shares, ETC Group and CoinShares saw inflows of $75 million, $13 million and $6.1 million respectively. <\/p>\n

Top Institutional manager Grayscale remained dominant, representing 74% of sectors AUM with $41.8 billion. <\/p>\n

Grayscale announced<\/a> a partnership with alternative asset fintech provider iCapital Network on Sept. 13. The deal will enable iCapital’s advisors to offer the firm\u2019s high-net-worth clients access to Grayscales\u2019 digital asset services via a diversified market-cap-weighted investment strategy.<\/p>\n