Investments in Solana-based Products Enjoy Largest Weekly Inflows Since March Last Year

CoinShares, Grayscale, 21Shares, Bitwise, and ProShares, asset managers offering digital asset investment products, experienced inflows for the second week in a row, the highest since July, with a total of $78 million added to these funds.

The most significant inflows came from Solana and Bitcoin funds. According to CoinShares’ recent report, Solana investment products saw their largest inflows since March 2022, with an addition of $24 million.

According to Head of Research James Butterfill, Solana is gaining popularity as the preferred altcoin, especially with the recent launch of ether futures ETF products. In 2021, Solana funds experienced inflows for 28 weeks, with only four weeks of outflows.

While Bitcoin dominated the majority of the inflows with an addition of $43 million, some investors also took advantage of the current price strength and added to their short-Bitcoin product positions, resulting in $1.2 million in inflows.

Europe continues to surpass the United States in inflows, accounting for 90% of the total, while the US and Canada only contributed $9 million combined.