Solana

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James

While the crypto investment sector has experienced significant outflows in recent weeks, the reverse has now been the case, with combined inflows reaching $441 million in the past week alone. This follows three consecutive weeks of net outflows ramping up <a href="https://bitcoinist.com/bitcoin-crypto-fear-greed-index/" target="_blank" rel="noopener ">concerns over investor confidence</a>. 
As <a href="https://blog.coinshares.com/volume-190-digital-asset-fund-flows-weekly-report-47b8dfbe45c6" target="_blank" rel="noopener nofollow">reported</a> by CoinShares head of research James Butterfill, the inflow recorded in the past week, despite the recent market conditions, suggests that many have likely considered the recent declines to be a “<a href="https://bitcoinist.com/wall-street-wizard-sees-major-bitcoin-buy-signal/" target="_blank" rel="noopener ">buying opportunity</a>” for investment rather than a signal to retreat. 
<h2 data-id="63a6b156-b859-45ca-855f-7a2d6c1b6a91" data-pm-slice="1 1 []">Details of The Crypto-Fund Flows</h2> 
Bitcoin <a href="https://bitcoinist.com/bitcoin-down-mt-gox-distribution-spooks-investors/">purchases</a> saw inflows from a wide range this week, with Ethereum and other altcoins, such as Solana, seeing significant interest. Bitcoin is still heading the pack with $384 million; however, this represents a move away from its customary near-total dominance. 
The report from CoinShares shows that Solana especially did well, drawing $16 million in inflows, “bringing year-to-date (YTD) inflows to US$57m, making it the best-performing altcoin from a flows perspective,” according to James Butterfill. 
Ethereum also witnessed a favorable adjustment with $10 million coming in, albeit the only main crypto asset still seeing a year-to-date net outflow. 
Meanwhile, huge investment firms like Ark Invest, Fidelity, and BlackRock have all noted similar trends in inflows. In the US, Bitcoin garnered $384 million from local funds, marking a particularly strong market. 
However, not every region mirrored this optimism; German-based funds experienced $23 million in net outflows, likely influenced by recent asset sales by the <a href="https://bitcoinist.com/why-the-us-and-german-government-selling-bitcoin-isnt-a-big-deal/" target="_blank" rel="noopener ">German government</a>, according to Butterfill. 
<h2 data-id="485570e0-7657-4446-ac66-2cdb0581571f" data-pm-slice="1 1 []">Market Performance: BTC, ETH, and SOL Show Signs of Stabilization</h2> 
However, the broader market has still been relatively bearish, with several major cryptocurrency assets falling sharply last week. Bitcoin fell to a low of $53k on Friday for the first time since February. Nonetheless, over the last 24 hours <a href="https://bitcoinist.com/bitcoins-brutal-dip-5-mining-machines-profitable/" target="_blank" rel="noopener ">Bitcoin</a>, Ethereum, and Solana have recovered modestly. 
Bitcoin has seen a slight increase of 0.5%, reclaiming the $57k threshold, while Ethereum gained 2.2%, also returning to the crucial $3k mark. Similarly, Solana followed these major crypto assets closely, seeing a 2.4% increase to trade for $140.86 at the time of writing. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/ADWcdJ0P/" alt="Bitcoin (BTC) price chart on TradingView amid crypto fund flows" width="2770" height="1496"> 
The $16 million investment in Solana-based products also comes at a time when VanEck, one of the world’s largest asset managers and Bitcoin exchange-traded funds (ETF) issuers, is planning the launch of a Solana-based ETF. 
VanEck has recently <a href="https://bitcoinist.com/first-spot-solana-etf-filing-officially-submitted/" target="_blank" rel="noopener ">filed with the US Securities and Exchange Commission (SEC)</a> for the first-ever Spot Solana ETF, marking a pivotal moment for the cryptocurrency. 
Featured image created with DALL-E, Chart from TradingView

Investors Pounce on Crypto Dip: $441 Million Floods Back into Market — CoinShares

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