Institutional Investors Bet Over $1.1 Million in Solana ($SOL) Investment Products so Far This Month

Institutional investors have allocated more than $1 million to crypto investment products that offer exposure to Solana ($SOL), but the market has seen a “widespread negative reaction” that crypto investment products are experiencing outflows. Emotions” are seen.

According to CoinShares’ latest Digital Asset Fund Flows report, Solana-focused investment products registered $700,000 in inflows last week, up from $400,000 the previous week, bringing the December total to $1.1 million. became.

The firm reported $30 million outflow from cryptocurrency investment products last week due to lingering uncertainty surrounding the FTX-related business collapse and the Federal Reserve’s continued hawkish rhetoric. was seen.

Bitcoin ($BTC)-focused investment products saw $17.5 million in outflows over the past week.


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Solana’s rival Ethereum ($ETH) has seen a total outflow of $9.1 million for five consecutive weeks, the report adds. Total assets under management in cryptocurrency investment products fell to $22.3 billion.

Solana’s price was heavily impacted by the FTX collapse. His FTX CEO Sam Bankman-Fried, who was arrested in the Bahamas earlier this week, is a well-known $SOL supporter and has invested in various projects around the cryptocurrency ecosystem. His involvement in these projects has affected investor confidence following the collapse of FTX. $SOL, at the time of writing, is trading near $12 after hitting a low of $11 last month.

Data from on-chain analytics firm Santiment suggests that the fear surrounding Solana could lead to its price rebound. This can happen if short sellers start to let go of their positions, causing a short squeeze.

A short squeeze occurs when the price of an asset rises unexpectedly and rapidly. When a short seller closes a position, a flood of buy orders can drive the price of the asset even higher.

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