Institutional traders flock to Solana as demand for ETH and BTC flattens
Institutions were betting big on Solana investment products last week, with SOL-tracking products attracting 86.6% of institutional inflows to digital asset products last week. Institutional traders have flocked to Solana (SOL) as demand for Ether (ETH) and Bitcoin (BTC) exposure has flattened, with SOL investment products representing a whopping 86.6% of total weekly inflows to crypto investment products last week. According to Tuesday’s issue of CoinShares’ “Digital Asset Fund Flows Weekly,” SOL investment products saw inflows of $49.4 million between Sept. 6 and Friday. The combined total inflows for crypto investment products equated to $57 million for the week, with SOL seeing a 275% week-over-week increase to represent 86.6% of total inflow.
The surging inflows to Solana products coincided with the price of SOL gaining 36% over the same period. The report concluded: “A combination of price appreciation and inflows now brings Solana’s assets under management to $97 million, the 5th largest of all investment products.”
Digital asset products have now seen inflows for the fourth consecutive week, with demand for altcoins significantly outweighing the appetite for BTC products, which saw minimal inflows of $200,000. The inflows were also partially offset by institutional investors offloading $6.3 million worth Ether exposure as the underlying asset’s price dropped 10% during the week.
Despite Cardano’s highly anticipated introduction of smart contracts on Monday, institutional flows into Cardano’s ADA-tracking products saw a 46% decrease compared to the previous week. Multi-asset products, XRP, Polkadot’s DOT and Bitcoin Cash (BCH) also saw inflows of $3.2 million, $3.1 million, $1.7 million and $600,000, respectively.
According to CoinShares’ estimates, institutional asset managers currently represent total assets under management (AUM) of $56.3 billion — marking a decrease of 9% compared to the week before, as the broader crypto markets experienced a pullback across the board.
Flows were mixed between asset managers, with CoinShares XBT and Purpose funds shedding $24.7 million and $45.5 million, respectively, while 21Shares, ETC Group and CoinShares saw inflows of $75 million, $13 million and $6.1 million, respectively. Top institutional manager Grayscale remained dominant, representing 74% of sectors AUM with $41.8 billion. Grayscale announced a partnership with alternative asset fintech provider iCapital Network on Monday. The deal will enable iCapital’s advisors to offer the firm’s high-net-worth clients access to Grayscales’ digital asset services via a diversified market-cap-weighted investment strategy.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 84.4% | 24 | $60 131.51 | -1.50% | 4.07% | $1 187 948 880 080 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 77.2% | 47 | $2 326.80 | -1.79% | -1.36% | $280 015 275 044 |  |
|
| 3 |  USDT |
Tether predictions | 93.6% | 1 | $1.000026 | -0.01% | -0.01% | $118 844 209 087 |  |
|
| 4 |  BNB |
Binance Coin predictions | 78.8% | 33 | $546.19 | -0.61% | 2.39% | $79 707 198 020 |  |
|
| 5 |  SOL |
Solana predictions | 75.2% | 41 | $131.32 | -1.50% | -1.51% | $61 507 367 220 |  |
|
| 6 |  USDC |
USD Coin predictions | 92.4% | 1 | $1.000362 | 0.04% | 0.03% | $35 600 779 343 |  |
|
| 7 |  XRP |
XRP predictions | 79.6% | 40 | $0.574877 | -2.46% | 7.21% | $32 415 053 866 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 84% | 28 | $0.101979 | 0.09% | 0.23% | $14 889 927 352 |  |
|
| 9 |  TON |
Toncoin predictions | 76% | 48 | $5.50 | -0.40% | 3.75% | $13 936 814 564 |  |
|
| 10 |  TRX |
TRON predictions | 85.6% | 14 | $0.149568 | -0.40% | -2.30% | $12 964 747 162 |  |
|
| 11 |  ADA |
Cardano predictions | 78.4% | 37 | $0.334999 | -0.54% | -3.21% | $12 046 775 107 |  |
|
| 12 |  STETH |
Lido stETH predictions | 94.4% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 13 |  WTRX |
Wrapped TRON predictions | 94.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
|
| 14 |  WBTC |
Wrapped Bitcoin predictions | 94.4% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |  |
|
| 15 |  AVAX |
Avalanche predictions | 75.2% | 45 | $23.13 | -4.20% | -1.76% | $9 390 128 560 |  |
