Asset management firm Bitwise is continuing its strategic investments in its Solana-focused exchange-traded fund (ETF), despite a recent dip in Solana‘s price. On-chain data has revealed that the company has consistently drawn new capital into the fund in recent days, underscoring a strengthening institutional interest in Solana.
Investment Momentum Sustained Over Seven Trading Days
According to data from SosoValue, as of September 28, there was a net inflow exceeding $9.65 million into Bitwise’s Solana ETF. This marks a seven-day streak of continuous capital injections, highlighting a growing appetite among institutional players for access to Solana.
Bitwise, known for its expertise in ETFs and index products within the cryptocurrency market, stands out for consistently adding to its Solana ETF holdings. This trend indicates that institutional investors are not limiting themselves to just Bitcoin and Ethereum, reflecting a shift towards a more diversified approach.
Bitwise’s Solana ETF attracted over $9.65 million in new capital by September 28, maintaining a seven-day streak of uninterrupted inflows.
Total Inflows Approach $1.23 Billion Mark
The ongoing capital inflows have pushed the cumulative net inflows of the Bitwise Solana ETF to approximately $1.23 billion, bringing it noticeably close to the $1.5 billion threshold.
To reach this target, the fund requires about $270 million more in net inflows. If the current momentum persists, this goal might be attainable within one to two months.
Institutional Demand Remains Strong Despite Price Dip
Bitwise’s recent acquisitions occurred during a period when Solana’s price experienced a temporary weakness. Nonetheless, rather than withdrawing, institutional investors opted to increase their positions.
The new week has already seen net inflows reach up to $12.7 million. This persistent inflow indicates sustained institutional interest in Solana irrespective of pricing trends, keeping alive expectations for potential recovery in the asset.
With a net inflow of $12.7 million recorded in the new week, despite a temporary price decline, it is clear that institutional interest is unwavering.
Recent data hint at Solana gaining stronger traction among institutional investors, likely propelled by market recovery. Bitwise’s consistent investments are among the most concrete signs of this ongoing trend.
