$50M Flows Into Solana Funds
During last week’s price falls, Solana’s price outperformed a basket of the top 10 digital assets by 34%.
Takeaways
- Digital asset investment products saw inflows totalling US$57m last week, posting their 4th week of inflows.
- 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. This was reflected with inflows, dwarfing any other digital asset, totalling almost US$50m.
- Bitcoin remained flat for the week with a paltry US$0.2m of inflows, while Ethereum saw minor outflows totalling US$6.3m.
Digital asset investment products saw inflows totalling US$57m last week, posting their 4th week of inflows. Volumes in investment products have now risen 143% since their lows in early July to US$3.8bn. This rise in volumes and inflows indicates investors are now beginning to be more active following the seasonal summer doldrums.
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. This was reflected with inflows, dwarfing any other digital asset, totalling almost US$50m. A combination of price appreciation and inflows now brings Solana’s assets under management (AuM) to US$97m, the 5th largest of all investment products.
Bitcoin remained flat for the week with a paltry US$0.2m of inflows, while Ethereum saw minor outflows totalling US$6.3m.
The trend of diversification remains intact amongst investors, with inflows into Cardano, multi-asset, XRP and Polkadot totalling US$3.5m, US$3.2m, US$3.1 and US$1.7m respectively.
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Contact James Butterfill at [email protected]
