CoinShares statistics shows a weekly inflow of $193 million, with Bitcoin accounting for more than half of total. Solana is also attracting notice, as he recently set a new record.
The increased inflows have undoubtedly shown in prices, with Bitcoin rising nearly 14% and Solana increasing about 28% in the last week, respectively, the largest gains within 7 days both currencies have seen in a long time.
Institutional investments in cryptocurrencies are at their highest levels in three months, according to CoinShares data released on Tuesday, a dramatic increase from the previous week’s $47 million outflow.
According to the Digital Asset Fund Flows Weekly Report, total inflows into digital asset investment products totaled $193 million last week, the highest amount since early December 2021.
The last time investment levels were this high was in the week ending Dec. 3, when $184 million in inflows were recorded.
The fund flows were heavily influenced by Bitcoin (BTC), with slightly over half of the capital going into BTC-based products, which saw inflows of $98 million.
Solana (SOL) came in second, with $87 million in inflows for the week, the “biggest single week of inflows on ever,” according to CoinShares. SOL-based funds currently account for 36% of institutional assets under management, making it the second-largest cryptocurrency after Ether (ETH). Inflows into ETH-based funds totaled just $10.2 million last week.
The news that the measure limiting proof-of-work (PoW) mining did not pass appeared to boost European enterprises. Last week, the area accounted for 76 percent of inflows, or $147 million.
The report’s findings contrast sharply with statistics from the previous week, which showed $49.4 million in BTC and ETH being withdrawn from largely North American enterprises due to concerns about rising crypto laws.