Bitwise Loads Up on Solana Despite Price Decline
Bitwise Asset Management has continued to expand its holdings in Solana despite the recent decline in price. The company's Solana exchange-traded fund (ETF) saw a fresh influx of $9.65 million in capital as of September 28, marking seven consecutive days of buying activity.
This latest purchase brings Bitwise' cumulative net inflows in Solana to approximately $1.23 billion, closing in on the $1.5 billion milestone. To reach this target, the company would need an additional $270 million in net inflows over the next month or two at its current pace.
The increased institutional demand for Solana exposure is reflected in Bitwise' consistent purchases of the asset. This trend suggests that investors are becoming increasingly bullish on Solana, positioning it for a potential price recovery despite the brief slowdown in price.