Recent developments in the crypto industry show that the demand for investment funds is on the rise. Last week, a net funding request of $66 million was received, and a total of $179 million in fund inflows were recorded in the last four weeks.
According to CoinShares’ analysis, with the impact of the increase in cryptocurrencies in the last month, assets under management (AUM) increased by 15% since the beginning of September, resulting in the total asset value reaching $33 billion.
The Biggest Share is in Bitcoin
Bitcoin took the largest share in fund inflows. Since the beginning of the year, fund inflows into Bitcoin have increased to $315 million. However, the increase in Bitcoin’s price reduced the demand for short positions. Analysts believe that this trend indicates that Bitcoin’s price may rise further.
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Net Inflows to Solana Increased
Solana was the cryptocurrency that attracted the most attention among altcoins during this period. Last week, Solana alone accounted for a significant portion of the net $66 million fund inflow.
Solana received a net inflow of $15.5 million last week alone. Since the beginning of the year, demand for Solana investment products has increased and reached 74 million dollars.
Ether is experiencing a situation unlike Solana. According to the CoinShares report, Ether investment products saw a net outflow of $7.4 million last week. This caused total assets to fall to $6.7 billion.
General Situation in the Crypto Market
According to Investing’s report, interest in digital investment products has increased noticeably in the last few weeks. The total assets of major fund managers such as CoinShares, Bitwise, Grayscale, ProShares and 21Shares reached $33 billion. However, this increase is much more limited compared to previous periods. Especially after BlackRock’s Bitcoin ETF application, the investments recorded were less compared to this period.