Institutional exposure to altcoin products retests all-time high
Inflows to Solana-based investment products saw a whopping 388% increase last week, with institutional investors gaining exposure to $13.2 million worth of SOL products. Institutional demand for altcoin exposure has surged to record levels, with the altcoin market share now representing a record 35% of capital locked in crypto investment products. According to CoinShares’ Sept. 7 Digital Asset Fund Flows Weekly report, nearly 40% of the past week's inflows to digital asset investment products were allocated t instruments tracking altcoins.
While $97.8 million was invested into crypto investment products combined between Aug. 30 and Sept. 3 to mark the sector’s third consecutive week of inflows, $38.9 million was invested into altcoin products. This past week also saw a sizeable increase in institutional crypto investments, with the previous two weeks recording inflows of $24 million and $21 million respectively.
Roughly 35% of capital invested in institutional crypto investment products is currently locked in instruments tracking assets other than Bitcoin — comprising a retest of the metric’s all-time high from May. Ethereum (ETH) tracking products led the altcoin pack for the second week in a row, recording inflows of $14.4 million, a 16.2% decrease from the previous week’s $17.2 million. There was a whopping 388% spike in weekly inflows for Solana (SOL)-based products, with SOL products absorbing $13.2 million. This coincided with the price of SOL gaining 37% over the same period.
CoinShares highlighted that inflows to Solana products doubled year-to-date (YTD) this past week, with $25 million having been invested into SOL instruments during the entirety of 2021 so far. SOL-based products now represent $44 million in total assets under management (AUM). Cardano (ADA) and Polkadot (DOT)-based funds also saw notable inflows of $6.5 million and $2.7 million respectively.
Bitcoin (BTC) investment products bucked an eight-week trend of outflows — the longest streak on record for any digital asset product — after enjoying inflows of $58.9 million for the week. Despite the bullish shift in momentum, BTC investment products have posted outflows for 14 of the past 17 weeks.
According to CoinShares estimates, institutional asset managers currently represent a total AUM of $62.5 billion combined — nearing the record high of $66 billion posted during mid-May. Top institutional asset manager Grayscale continues to dominate the competition, representing 73% of the sector's combined AUM with $46.2 billion.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 84% | 27 | $63 966.63 | 3.46% | -4.70% | $1 259 344 183 977 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 73.6% | 45 | $3 054.84 | 2.40% | -5.41% | $366 801 747 988 |  |
|
| 3 |  USDT |
Tether predictions | 93.2% | 1 | $1.000299 | 0.03% | 0.01% | $109 502 309 325 |  |
|
| 4 |  BNB |
Binance Coin predictions | 84.8% | 18 | $556.67 | 2.74% | -4.42% | $83 240 131 639 |  |
|
| 5 |  SOL |
Solana predictions | 73.6% | 51 | $142.43 | 4.50% | -6.09% | $63 637 554 816 |  |
|
| 6 |  USDC |
USD Coin predictions | 91.6% | 2 | $0.999924 | -0.01% | 0.01% | $33 898 423 318 |  |
|
| 7 |  XRP |
XRP predictions | 71.2% | 58 | $0.513936 | 5.85% | -5.57% | $28 332 826 715 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 68.8% | 60 | $0.155619 | 6.37% | -9.94% | $22 402 368 474 |  |
|
| 9 |  TON |
Toncoin predictions | 70% | 64 | $6.07 | -10.06% | -11.35% | $21 059 889 866 |  |
|
| 10 |  ADA |
Cardano predictions | 70% | 60 | $0.478104 | 8.02% | -4.99% | $17 032 290 969 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 62.8% | 85 | $0.000023 | 5.71% | -5.12% | $13 599 570 972 |  |
|
| 12 |  AVAX |
Avalanche predictions | 70.8% | 60 | $35.15 | 4.34% | -8.04% | $13 285 901 976 |  |
|
| 13 |  STETH |
Lido stETH predictions | 93.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  WBTC |
Wrapped Bitcoin predictions | 82.4% | 32 | $63 930.36 | 3.34% | -4.43% | $9 933 737 511 |  |
|
| 15 |  DOT |
Polkadot predictions | 68.4% | 57 | $6.74 | 3.49% | -5.57% | $9 674 271 268 |  |
