Ethereum

Solana

United

Bitcoin ETF

Bitcoin

<div class="dailyhodl">
 <p>Digital assets manager CoinShares says Ethereum (ETH) rival Solana (SOL) is an institutional favorite as the crypto market boils over with Bitcoin (BTC) exchange-traded fund (ETF) fervor.</p>
 <p>In its latest Digital Asset Fund Flows report, CoinShares&nbsp;finds&nbsp;that institutional investors have poured more money into Solana than any other non-BTC digital asset over the last week and year.</p>
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 <p><em>“Solana saw a further US$15.5m inflows last week, bringing year-to-date inflows to US$74m (47% of AuM [assets under management]) — making it the most popular altcoin this year so far.”</em></p>
 <p>Overall, the digital assets markets saw their fourth week of institutional inflows in a row. According to CoinShares, some of the momentum may come from a growing anticipation of the approval of a spot Bitcoin ETF in the United States.</p>
 <p><em>“Digital asset investment products saw inflows for the 4th consecutive week totaling US$66m. Total AuM has now risen to US$33bn.</em></p>
 <p><em>While the most recent inflows are likely linked to excitement over a spot bitcoin ETF launch in the US, they are relatively low in comparison to June announcements, suggesting more caution from investors this time around.”</em></p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://cdn.thebittimes.com/images/2023/10/24/71d0644af712a61c84d6cbd00ad61039.png" alt="" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: CoinShares
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 </figure>
 <p>BTC institutional investment products raked in over $55 million in inflows last week, while short BTC products took in $1.6 million.</p>
 <p>While altcoins Binance Coin (BNB) and Cardano (ADA) enjoyed minor inflows of $0.2 million and $0.1 million respectively, Ethereum (ETH) products bled out $7.4 million.</p>
 <p><em>“Continued concerns over Ethereum have led to further outflows of US$7.4m, the only altcoin to see outflows last week.”</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-leads-the-way-as-institutions-pour-millions-into-crypto-markets-amid-bitcoin-etf-excitement-coinshares-tbt67486.html">https://thebittimes.com/solana-leads-the-way-as-institutions-pour-millions-into-crypto-markets-amid-bitcoin-etf-excitement-coinshares-tbt67486.html</a></p>

Solana Leads the Way As Institutions Pour Millions Into Crypto Markets Amid Bitcoin ETF Excitement: CoinShares

TheBitTimes

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