CoinShares data revealed on Tuesday that institutional investments in cryptocurrencies are at their highest in three months, up sharply from the previous week, which saw $47 million outflows.
The Digital Asset Fund Flows Weekly Report revealed a total inflow of $193 million in investment products for digital assets last week, a level not seen since early December 2021.
According to the statements made, the last time investment levels were close to the current figure was the week that ended on December 3, when there was an inflow of $ 184 million. Fund flows, on the other hand, were largely focused on Bitcoin (BTC), with more than 50% of capital going to BTC-based products.
Solana (SOL) came in second and saw $87 million in entries for the week. According to the statements made by Coinshares, SOL investments are the largest single weekly entry on record. SOL-based funds now represent the largest crypto investment by institutional firms after Ethereum.
Europe seems to have stepped up its crypto investments after the bill outlawing proof-of-work (PoW) mining was not passed. Statements show that 76% of Entries, or about $147 million, come from the region.
In addition, the data in the report seems to be in stark contrast to the data on companies in the North America region exiting $49.4 million in BTC and ETH last week due to growing concerns about cryptocurrency regulations.
Cash inflows by institutional firms correlate with the price of Bitcoin, which at one point saw a recent spike above $48,500. The same goes for Ethereum, which has risen above $3,300.
Investment products with Solana see significant fund inflows
Institutional investment products based on Solana took the top spot, attracting a record-breaking amount of funds the previous week. Solana-based institutional investment products posted a record inflow of $87 million the previous week, according to data from digital asset management firm CoinShares.
Solana currently has a total of $241 million in institutional funds under management, making the altcoin the fifth most popular cryptocurrency among institutional investors. Bitcoin funds, on the other hand, attracted the largest share of investment capital, seeing $ 98 million in fund inflows.