Bitcoin
BTC$57 397.14

5.51%

Ethereum
ETH$4 325.04

6.69%

Binance Coin
BNB$609.29

4.33%

Tether
USDT$1.000997

0.02%

Solana
SOL$203.84

7.44%

Cardano
ADA$1.59

5.99%

Institutional exposure to altcoin products retests all-time high


07 Sep 2021

#Solana

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.


Related

Solana surpasses Cardano, Tether to become fourth-biggest crypto worth $76 billion
Solana surpasses Cardano, Tether to become fourth-biggest crypto worth $76 billion
Solana secondary NFT sales reach half a billion dollars in three months
Solana secondary NFT sales reach half a billion dollars in three months
This third-generation Solana-powered DEX will let users develop their own trading algorithms
This third-generation Solana-powered DEX will let users develop their own trading algorithms
Solana attributes major outage to denial-of-service attack targeting DEX offering
Solana attributes major outage to denial-of-service attack targeting DEX offering
Solana rally mimicking Ethereum? Why a $500 SOL price target could be conservative
Solana rally mimicking Ethereum? Why a $500 SOL price target could be conservative
Institutional traders flock to Solana as demand for ETH and BTC flattens
Institutional traders flock to Solana as demand for ETH and BTC flattens
Bitcoin price in line for impulsive bounce as Solana (SOL) leads altcoin surge
Bitcoin price in line for impulsive bounce as Solana (SOL) leads altcoin surge
SOL price nears $200 after FTX's Solana-enabled NFT marketplace goes live
SOL price nears $200 after FTX's Solana-enabled NFT marketplace goes live
Solana hits record high with SOL price up over 218% in six weeks
Solana hits record high with SOL price up over 218% in six weeks

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 78.8% 42 $57 397.14 5.51% -0.13% $1 084 001 374 692 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82.4% 32 $4 325.04 6.69% 3.38% $512 656 495 446 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 74.4% 53 $609.29 4.33% 7.07% $101 630 227 689 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 94.8% 1 $1.000997 0.02% -0.01% $73 194 134 956 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 69.2% 65 $203.84 7.44% -8.23% $61 976 513 439 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 67.2% 60 $1.59 5.99% -11.72% $52 852 892 795 ADA 7 days price change
7 XRP (XRP) XRP XRP predictions 74.4% 51 $0.987767 7.45% -5.41% $46 582 102 093 XRP 7 days price change
8 USD Coin (USDC) USDC USD Coin predictions 91.2% 2 $0.998878 -0.13% -0.10% $38 347 542 030 USDC 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 66% 75 $36.25 8.95% -9.51% $35 798 276 399 DOT 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 62.4% 74 $0.205694 2.60% -7.52% $27 214 125 290 DOGE 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 66.8% 75 $112.35 3.84% -16.51% $25 147 340 195 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 62% 77 $0.000039 3.61% -9.86% $21 537 353 661 SHIB 7 days price change
13 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 56% 90 $0.766272 1.87% 10.94% $19 358 331 922 CRO 7 days price change
14 Terra (LUNA) LUNA Terra predictions 64.8% 72 $49.02 8.15% 18.38% $19 258 363 664 LUNA 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 74.4% 46 $56 525.74 5.34% -1.06% $14 327 926 572 WBTC 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.