Over the past week cryptocurrency investment products saw a total of $293 million in inflows, bringing their 7-week inflows over the $1 billion mark. Beyond BTC and ETH, investment products focusing on Solana (SOL) and Cardano (ADA) saw significant inflows, while other altcoins saw outflows.<\/p>\n
According to CoinShares\u2019 latest Digital Asset Fund Flows report, Bitcoin-focused investment products aw institutional investor pour $240 million into them last week, bringing their year-to-date flows to $1.08 billion. Ethereum, meanwhile, saw $49.1 million in inflows last week, but its year-to-date flows are still down $58 million.<\/p>\n
While products offering exposure to multiple digital assets have seen $600,000 of outflows last weeks, institutional investors bet heavily on Solana, with $12.4 million going into products focusing on the cryptocurrency. Similarly, Cardano-based investment products saw $800,000 in inflows.<\/p>\n
These figures have seen Solana-focused products\u2019 year-to-date inflows reach $121 million, while Cardano-based products have seen $8 million invested in them so far this year. As CryptoGlobe reported Solana has recently surpassed the $54 mark for the first time since May 2022 after surging more than 450% year-to-date.<\/p>\n
On the Cardano network, on the other hand, whale activity has been surging to the point it recently reached a six-month high. As CryptoGlobe reported, Cardano price predictions suggest moderate growth for the rest of November.<\/p>\n
Cardano\u2019s ADA could nevertheless\u00a0rise as much as 43.5% in November\u00a0as historical data suggests that the cryptocurrency\u2019s price could go up this month based on average returns, although its median return over the month suggests a potential decline of 2.5%.<\/p>\n