{"id":3822,"date":"2024-08-20T08:14:36","date_gmt":"2024-08-20T08:14:36","guid":{"rendered":"https:\/\/solanacrypto.news\/2024\/08\/20\/solana-sees-biggest-institutional-outflows-on-record-amid-slowdown-in-memecoin-volume-coinshares\/"},"modified":"2024-08-20T08:14:36","modified_gmt":"2024-08-20T08:14:36","slug":"solana-sees-biggest-institutional-outflows-on-record-amid-slowdown-in-memecoin-volume-coinshares","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2024\/08\/20\/solana-sees-biggest-institutional-outflows-on-record-amid-slowdown-in-memecoin-volume-coinshares\/","title":{"rendered":"Solana Sees Biggest Institutional Outflows on Record Amid Slowdown in Memecoin Volume: CoinShares"},"content":{"rendered":"
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Digital assets manager CoinShares says that institutional crypto investors poured only minor inflows of capital into digital asset investment products last week.<\/p>\n

In its latest Digital Asset Fund Flows\u00a0report<\/a>, CoinShares says that Ethereum (ETH<\/a>) competitor Solana (SOL<\/a>) institutional crypto investment products saw record outflows last week amid an apparent loss of interest in memecoins.<\/p>\n

\u201cSolana saw outflows of US$39m, the largest on record, as it faced a sharp decline in trading volumes of memecoins, on which it heavily relies.\u201d<\/em><\/p>\n

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Source: CoinShares<\/figcaption><\/figure>\n

According to CoinShares, last week marked a huge drop in trading volumes for institutional investment products due to a change in expectations of the Federal Reserve\u2019s next move.<\/p>\n

\u201cWeekly trading volumes on investment products fell to nearly 50% of the week prior at US$7.6bn, as recent macroeconomic data implied the FED were less likely to cut interest rates by 50 basis points in September.\u201d<\/em><\/p>\n

Regionally, the Americas, including the United States, Canada, and Brazil, brought in $78.4 million in inflows while Switzerland and Hong Kong combined for $44 million in outflows.<\/p>\n

The leading crypto by market cap, Bitcoin (BTC<\/a>), led investment products with the most inflows at $42 million.<\/p>\n

While ETH and XRP<\/a> products brought in $4.2 million and $0.2 million respectively, multi-asset investment vehicles saw $21 million in inflows.<\/p>\n

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