Weiss Crypto, a division of Weiss Ratings agency, announced on its X page that last week Solana surpassed other major altcoins in terms of funds inflows from institutional investors.
Investments into this asset have constituted $24 million, with Weiss Crypto, "continuing to assert itself as the #altcoin of choice among institutions," the X post says.
Weiss Crypto referred to the data shared by CoinShares fund, which deals with financial institutions. According to its report for the past week, Solana has seen $24 million in new Investments. It was the best week for SOL so far since March of this year, and it has been $55 million in terms of year-to-date figures.
Inflows into Ethereum stand at $10.2 million, showing "tepid appetite for the launch of Ethereum futures ETFs." According to the report, Bitcoin investments totalled $42.7 million. Cardano's ADA received the smallest portion of institutional funds last week - $0.2 million, the CoinShares report states.
Solana "continues to assert itself as the altcoin of choice, particularly in light of the recent Ethereum product launches," CoinShares' X post stated. Overall, $78.4 million in fiat was invested in crypto by financial institutions last week.
Alex Dovbnya
Denys Serhiichuk
Tomiwabold Olajide