Institutional investors are loading up on Solana (SOL), with ane-tertiary of inflows to crypto investment products beingness invested in instruments tracking Solana this by week.

According to CoinShares' Mon "Digital Asset Fund Flows Weekly" written report, $7.1 million flowed into Solana investment products betwixt Aug. 15 and Fri.

While the price of SOL gained a meager i.4% on spot markets over the same catamenia, SOL has gained 110% from $35.58 since the commencement of August to trade for $75 as of this writing.

CoinShares' report notes that institutional crypto investment products bucked a vi-week trend of outflows, with roughly $21 million flowing into the sector this past week.

Products tracking Cardano (ADA) were the 2nd-most popular for the week, with inflows totaling $6.4 million. Institutions also poured $three.ii million into products tracking Ether (ETH), $1.8 million into Litecoin (LTC) and $1.1 1000000 into Polkadot's DOT.

Flows past nugget. Source: CoinShares

Institutional Bitcoin (BTC) products saw outflows of $two.8 million for the calendar week — marking the 7th consecutive week of outflows for Bitcoin. BTC shed six% over the aforementioned menses.

Related: Pro traders are mildly skeptical about Bitcoin'southward recent return to $50K

The report noted that the value of avails under management (AUM) by crypto investment product issuers increased to $57.3 billion as the markets rallied this week — its highest level since peaking at around $66 billion during the heights of the 2022 balderdash market in mid-May.

Leading institutional asset manager Grayscale represents three-quarters of the sector's AUM with $42.vi billion.

Flows across nugget providers were mixed, nonetheless, with the CoinShares XBT and ETC Issuance funds shedding $ix.five million and $nine.4 million, while 21shares, CoinShares Physical and 3iQ posted inflows of $21.8 million, $14.7 million and $10.eight one thousand thousand, respectively.