Digital Asset Fund Flows marked the fourth consecutive week of inflows at $66 million in digital assets investment products, reported CoinShares, driven by optimism surrounding the possible announcement of spot Bitcoin ETF approval.

Meanwhile, total assets under management rose to the highest since mid-August at $33 billion (+15% from September) amidst rising prices.

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The levels were still lower compared to June 2023 when BlackRock announced its spot Bitcoin ETF application and took institutional investors' interest to $807 million in four consecutive weeks of inflows.

The report highlighted 84% of inflows are in Bitcoin investment products thereby taking inflows year-to-date to $315 million.

While prices peaked at $30,000 last week, inflows into short Bitcoin stood at $23 million. Inflows by the end of the week stood at $1.7 million indicating shaken confidence in short sellers.  

With a surge of around 3% in the past 24 hours, Solana (CRYPTO: SOL) had a significant 62% increase in its 24-hour trading volume and a 4% expansion in market cap. The past month had a 53% jump in its price with two weeks gains itself at 34.1%.

Notably, Solana witnessed a $15.5 million inflows taking its year-to-date inflows to $74 million thereby placing it on the highest pedestal of most popular altcoin in 2023.

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On the other hand, Layer-1 competitor Ethereum emerged as the only altcoin to see outflows of $7.4 million.

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