Solana Rebounds with $24M Inflows as Digital Asset Investment Products Gather Pace

According to CryptoPotato, Solana has experienced a gradual shift in its investment trend, with its investment products gathering pace once again. The altcoin attracted nearly $24 million in inflows over the past week, according to CoinShares's latest edition of the 'Digital Asset Fund Flows Weekly Report.' In contrast, Ethereum saw minor outflows of $2.1 million last week, despite having a stronger position in year-to-date inflows. Other significant inflows were observed in Polkadot, Fantom, Chainlink, and Uniswap, receiving $2.7 million, $2 million, $2 million, and $1.6 million, respectively, during the same period. Investment products focused on digital assets experienced record weekly inflows of $2.7 billion, pushing the year-to-date total to $10.3 billion, slightly below the record inflow of $10.6 billion seen in 2021. Weekly trading turnover soared to $43 billion, surpassing the previous week's record of $30 billion. The ongoing market rally propelled total assets under management (AuM) to a historic high of $94.4 billion, reflecting a 14% increase over the past week and an 88% rise so far this year. CoinShares recorded minor outflows of $2.5 million in blockchain equities. Bitcoin continued to attract investor attention, receiving inflows totaling $2.6 billion and bringing year-to-date inflows to 14% of the total AUM. Despite recent price increases, inflows into short bitcoin positions persisted, with an additional $11 million observed last week. In terms of regions, the United States witnessed inflows of $2.8 billion, while Switzerland and Brazil trailed with inflows of $21 million and $18 million, respectively. On the other hand, Canada, Germany, and Switzerland experienced profit-taking, with outflows of $35 million, $77 million, and $39 million, respectively.

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