Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Solana (SOL) is rapidly gaining the attention of institutional investors, who are increasingly showing a strong interest in this crypto token. This trend underscores the possibility that Solana could be the next in line to launch its Spot ETF, a development that could significantly impact the crypto token\u2019s price.\u00a0 Solana Investment Funds Record Year-To-Date Inflows Of $29 Million According to CoinShares\u2019 latest weekly report, Solana investment products currently boast a year-to-date (YTD) net inflows of $29 million. Last week, these funds saw net inflows of $8 million. Meanwhile, these Solana funds have recorded net inflows of $19 million this month alone.\u00a0 Related Reading: Market Expert Says XRP Price Reaching $1,000 Is Inevitable, Here\u2019s Why This development highlights the significant demand for Solana among institutional investors. It also strengthens the case for SOL as the next crypto asset to have its own Spot ETF following the approval of the Spot Ethereum ETFs.\u00a0 Fund issuers are bound to weigh the popularity of other crypto tokens (besides Bitcoin and Ethereum) when deciding which Crypto ETF to apply for next. Solana is undoubtedly the clear favorite, as it has recorded the most YTD flows among other crypto investment funds, excluding Bitcoin and Ethereum.\u00a0 The demand for Solana among these institutional investors is also evident, given how notable institutions like asset management firm Pantera Capital actively bidded and purchased some of the discounted SOL tokens, which formed part of FTX\u2019s bankruptcy estate.\u00a0 Brian Kelly, founder of digital assets investment firm BKCM, had recently predicted that a Solana Spot ETF was likely next in line, considering that Bitcoin, Ethereum, and Solana are the \u2018Big 3\u2019 for this cycle. As such, it is only logical that a SOL ETF comes next since Bitcoin and Ethereum Spot ETFs have been approved.\u00a0 Asset manager Franklin Templeton also backed the Solana narrative, predicting that the crypto token would soon become the third-largest crypto token by market cap behind Bitcoin and Ethereum. Meanwhile, Bloomberg analyst James Seyffart also weighed on the possibility of a Solana ETF being next, stating that this fund will see more demand than other digital assets besides Bitcoin and Ethereum.\u00a0 Digital Asset Products Record Third Consecutive Week Of Inflows Last week was a good one for crypto asset investment products in general. These investment products recorded net inflows for the third consecutive week, with $1.05 billion flowing into these funds. Most of these inflows went into Bitcoin investment products, which recorded net inflows of $1.01 billion last week. Related Reading: Ethereum Spot ETFs: Report Shows Grayscale Could Keep ETH Price Down With $110M Daily Outflows Meanwhile, Ethereum recorded $36 million in net inflows last week. This figure represents the highest inflow that Ethereum investment products have seen since March. CoinShares noted that this was likely an early reaction to the approval of the Spot Ethereum ETFs in the United States.\u00a0 Besides Solana, which saw a net inflow of $8 million, Litecoin, XRP, and Chainlink were the other altcoins that recorded notable flows, with $2.8 million, $400,000, and $600,000 flowing into these crypto assets, respectively.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":610430,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[12837,89406,86420,83626,89405,85361,86410,83627],"class_list":["post-610397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-sol","tag-sol-news","tag-sol-price","tag-solana","tag-solana-news","tag-solana-price","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\n
Solana Remains Institutional Investors\u2019 Favorite, YTD Flows Ramp Up To $29 Milion<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n