Institutional traders have flocked to Solana (SOL) as need for Ether (ETH) and Bitcoin (BTC) exposure has flattened, with SOL investment products representing a whopping 86.6% of full weekly inflows to crypto investment products last week.

According to Tuesday'southward issue of CoinShares' "Digital Asset Fund Flows Weekly," SOL investment products saw inflows of $49.4 million between Sept. 6 and Friday. The combined total inflows for crypto investment products equated to $57 one thousand thousand for the week, with SOL seeing a 275% week-over-calendar week increase to represent 86.6% of full inflow.

The surging inflows to Solana products coincided with the toll of SOL gaining 36% over the aforementioned period. The report ended:

"A combination of price appreciation and inflows now brings Solana'south assets under management to $97 million, the fifth largest of all investment products."

Digital asset products take now seen inflows for the 4th sequent week, with demand for altcoins significantly outweighing the appetite for BTC products, which saw minimal inflows of $200,000.

The inflows were also partially offset by institutional investors offloading $6.3 million worth Ether exposure every bit the underlying asset's price dropped x% during the week.

Despite Cardano's highly anticipated introduction of smart contracts on Monday, institutional flows into Cardano's ADA-tracking products saw a 46% decrease compared to the previous calendar week.

Multi-asset products, XRP, Polkadot's DOT and Bitcoin Cash (BCH) besides saw inflows of $three.ii 1000000, $three.i 1000000, $1.7 million and $600,000, respectively.

Related: Finance Redefined: DeFi's $4M lobsters and Solana gaming, Sept. 6–ten

According to CoinShares' estimates, institutional asset managers currently correspond total assets nether direction (AUM) of $56.3 billion — marking a decrease of 9% compared to the week before, every bit the broader crypto markets experienced a pullback across the board.

Flows were mixed between asset managers, with CoinShares XBT and Purpose funds shedding $24.7 one thousand thousand and $45.5 1000000, respectively, while 21Shares, ETC Group and CoinShares saw inflows of $75 million, $13 one thousand thousand and $six.1 million, respectively.

Pinnacle institutional director Grayscale remained dominant, representing 74% of sectors AUM with $41.viii billion.

Grayscale announced a partnership with alternative nugget fintech provider iCapital Network on Monday. The deal will enable iCapital's advisors to offer the firm's high-net-worth clients admission to Grayscales' digital asset services via a diversified marketplace-cap-weighted investment strategy.