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Solana ETPs See $39M Outflow, Because Apparently Nobody Actually Believed in the SOL Price

An illustration of a sinking ship with Solana's logo on its side in the water below it; surrounded by waves labeled as "Memecoins" that are receding away from the vessel. A Bitcoin ETP life raft floats nearby while other ships (altcoin funds) sail safely in the distance, undisturbed by the turmoil. The background is a darkening sky with clouds of dust and debris rising up into it; an image of a declining stock market ticker tape can be seen on one side of the illustration. A faint outline of a cryptocurrency chart pattern forms above the shipwreck scene.

Solana ETPs see a whopping $39 million outflow – Is this finally the top for SOL? It’s about bloody time! The crypto market was bound to correct itself eventually. I mean who needs all that hype around memecoins anyway? They’re just a bunch of worthless tokens created by get-rich-quick enthusiasts and shills trying to make a quick buck off unsuspecting investors.

Source: cointelegraph

Solana exchange-traded products (ETPs) were the least favorite trade for institutional investors as they experienced the most outflows amid modest inflows into crypto funds.  In its Digital Asset Funds Weekly Report published on Aug. 12, asset manager CoinShares revealed that crypto asset investment products saw minor inflows totaling $30 million for the week ending Aug. 16. Source: CoinShares According to the report, Solana (SOL) funds felt the brunt of the […]

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