Institutional interest in Solana (CRYPTO: SOL) remains high, as SOL investment products saw close to $50 million in inflows last week.
What Happened: According to a new CoinShares report monitoring weekly digital asset fund flows, inflows to Solana amounted to $49.5 million, far exceeding any other digital asset.
“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,” noted CoinShares.
The week’s gargantuan inflows coupled with Solana’s price appreciation has brought the total assets under management for Solana products to a total of $97 million — the fifth-largest of all crypto investment products.
The leading digital asset Bitcoin (CRYPTO: BTC) recorded only $200,000 in weekly inflows. Ethereum (CRYPTO: ETH) saw outflows totaling $6.3 million over the week.
Other altcoins like Cardano (CRYPTO: ADA), XRP (CRYPTO: XRP), and Polkadot (CRYPTO: DOT) saw weekly inflows totaling $3.5 million, $3.1 million, and $1.7 million, respectively.
Price Action: At press time, Solana was trading at a price of $158.91, down 0.65% over 24 hours.