Bitcoin, Ethereum, and Solana ETFs Experience $3.3 Billion in New Investments Last Week

Cryptocurrency investment products shifted their recent outflow patterns last week, with Bitcoin, Ether, and Solana exchange-traded products (ETPs) experiencing notable inflows.

Global crypto ETPs attracted $3.3 billion in inflows last week, increasing the total assets under management (AUM) to $239 million, approaching the record high from August. Last month, crypto ETPs reached an all-time AUM of $244 billion.

The inflows coincided with modest gains in underlying assets. Bitcoin (BTC), which was priced at $111,900 on September 8, climbed 3.3% to $115,600 by Friday. Ether (ETH) rose from $4,300 to $4,500 in the same timeframe, marking a 4.6% increase within five days.

Meanwhile, Solana (SOL) achieved the best performance among the three, soaring from $214 to $239 throughout the week, an 11.6% rise, as reported by CoinGecko.

Bitcoin recorded its largest weekly inflows since July

According to CoinShares’ head of research, James Butterfill, Bitcoin-based products saw a significant rebound in sentiment last week.

Bitcoin funds attracted $2.4 billion in inflows, marking their best weekly outcome since July. Conversely, short Bitcoin products and assets taking the opposite position experienced minor outflows.

Ether-based products also ended a series of outflows. Butterfill noted that Ether ETPs experienced a turnaround in sentiment, recording four consecutive days of inflows, totaling $646 million last week.

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Solana ETFs achieved their largest single-day inflow of $145 million

Butterfill highlighted that Solana products recorded their largest single-day inflow on Friday at $145 million. This raised the asset’s total weekly inflows to $198 million.

The heightened interest in Solana ETFs followed a $1.65 billion treasury announcement by Forward Industries.

Last Monday, the Nasdaq-listed firm secured $1.6 billion in cash and stablecoin commitments to establish the largest Solana crypto treasury. The fundraising was spearheaded by crypto companies Galaxy Digital, Jump Crypto, and Multicoin Capital.

Following the announcement, Galaxy has been on a buying spree since Wednesday, amassing a total of $1.5 billion in Solana tokens. The company made purchases as large as $305 million in a single day last week.