Despite the recent selloff in the crypto markets, institutional managers have been quietly turning bullish over the past month.
Institutions were betting big on Solana investment products last week, with SOL-tracking products attracting 86.6% of institutional inflows to digital asset products last week.
Grayscale Investments has partnered with Icapital Network to provide more than 6,700 advisors access to its cryptocurrency investmen
Inflows to Solana-based investment products saw a whopping 388% increase last week, with institutional investors gaining exposure to $13.2 million worth of SOL products.
A Bitcoin ETF approval will open the door for more conservative investors, and this could have an irreversible impact on the price of BTC.
Ethereum and Cardano continue to dominate inflows to institutional crypto investment products while demand for BTC weakens.
The investment firm already has significant exposure to gold, minerals, precious metals, petroleum and other natural resources.
What was once a major bearish narrative exits via the tradesman’s entrance after failing to have any impact on Bitcoin markets.
Solana represented one-third of total inflows to institutional crypto investment products this past week.
The Grayscale Bitcoin Trust, which trades under the ticker symbol GBTC, is being snatched up by institutional managers looking for more traditional exposure to digital assets.