Falling crypto prices are not holding investors back from taking large long-term positions on digital assets. In addition to Bitcoin, crypto-assets like Tron (TRX) and Solana (SOL) saw substantial weekly institutional inflows.
Institutional investors poured nearly $19 million into Solana investment products while Tron investment products saw inflows totaling $17 million in the last week. The latest trend indicates that investors are not only dependent on Bitcoin for crypto investment.
Last week, Tron surpassed the total assets under management (AuM) of Cardano and became one of the preferred choices of global institutional investors. In terms of price, TRX witnessed several challenges in the last 6 months. But the crypto asset saw a decent increase in the past 7 days.
“Digital asset investment products saw inflows totaling US$88m last week, although this masks very mixed flows across providers. Some providers saw outflows representing as much as 11% of assets under management (AuM) while others saw inflows representing 14% of AuM. Suggesting extremely polarized opinion amongst investors, with some panic selling during this most recent price decline, while others see it as a buying opportunity,” CoinShares mentioned in its weekly digital asset fund flows report.
“Solana, Tron and Multi-asset investment products bucked the trend with inflows totaling US$19m, US$17m and US$15m, respectively,” the report added.
Mixed Picture?
While the overall fund flows remained positive last week, Ethereum saw outflows worth $17 million in the recent period. With that, the total ETH-related assets under management dropped to $18.1 billion. In addition, global digital asset management firms showed a mixed picture recently. North American crypto asset management companies have seen decent inflows in the last seven days while European firms witnessed major outflows. In total, the value of global digital assets under management stands at almost $65.5 billion. Bitcoin accounts for more than 60% of the total crypto assets under management.
