Bitcoin, Solana, XRP Record Massive Buying By Institutional Investors
While traders remain skeptical of crypto investments amid uncertainty, institutional investors are steadily buying top cryptocurrencies including Bitcoin (BTC), Solana (SOL), and XRP. Digital asset investment products record inflows for the 3rd consecutive week, sparking positive sentiment in the crypto market.
Crypto Funds Saw Third Week Of Inflows
Digital asset investment products saw inflows of $15 million, consecutively for the third week, reported CoinShares on October 16. However, trading volumes remain 27% below the 2023 average.
Bitcoin witnessed $16 million inflows, with $260 million inflows year-to-date. Short Bitcoin also saw inflows of $1.7 last week.
Despite a bad week for altcoins, Solana and XRP continue to see inflows. Tezos, Litecoin, and Chainlink recorded $0.25 million, $0.28 million, and $0.31 million, respectively. XRP saw the 25th consecutive week of inflows amid Ripple’s victory against the U.S. SEC.
Meanwhile, Ethereum recorded massive selling despite the launch of a futures-based ETH ETF. It saw outflows of $7.5 million last week. This came as the Ethereum Foundation, Vitalik Buterin, and whales offloaded Ethereum.
CoinShares Digital Securities and Purpose Investments saw major gains, with investments by investors in Germany, the U.S., and Canada.
CoinGapeMedia earlier reported that digital asset investment products experienced inflows totaling $78 million in the first week of October.
Read More: Bitcoin (BTC) Whales Go on Accumulation Spree, Is A Surge Incoming?
Bitcoin Saw Inflows As SEC’s Not Appealing Grayscale Ruling
The U.S. SEC decided to not appeal against the Grayscale ruling to covert GBTC to spot Bitcoin ETF. The court is now considering an order making the SEC reconsider Grayscale spot Bitcoin ETF filing.
Meanwhile, Bloomberg ETF analysts have raised the odds of approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) to 90%.
BTC price currently trades at $27678, up almost 3% in the past 24 hours amid massive inflow in the broader crypto market.
Also Read:
- Meitu Plans To Sell Its Crypto Holdings To Focus On AI Business
- Binance CEO Celebrates 25th Quarterly 2.1 Million BNB Burn, Price Recovers
- Defense Says Sam Bankman-Fried May Not Testify Without ADHD Medication
- ASTER Airdrop Delayed to October 20 Amid Criticisms Over Token Allocations
- U.S. Inflation Data: BLS to Release CPI Report on October 24 Amid Government Shutdown
- Bank of America, Citigroup and Goldman Sachs Explore Issuing Stablecoins Pegged to G7 Currencies
- Breaking: Bitcoin Falls After Trump Threatens ‘Massive’ Increase in Tariffs on China
- Breaking: $8 Trillion Morgan Stanley Opens Bitcoin Investments to All Wealth Clients
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
- Dogecoin Price Prediction as $23M Leaves Exchanges—Is the Parabolic Phase Beginning?
- Pi Network Price Collapses as Analyst Proposes Turnaround Tweaks
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
