Bitwise’s Solana Exchange Traded Product (ETP) has surpassed a remarkable milestone, achieving over $100 million in assets under management (AUM). This significant growth is attributed to substantial institutional investment and strategic acquisitions during the recent price decline for Solana. 🤝
A key driver behind this surge is a major purchase by DeFi Development Corp. The company expanded its treasury with a large Solana acquisition, further signifying growing institutional confidence in the cryptocurrency space. 📈
This milestone reflects a wider trend of increased interest and acceptance of regulated crypto investment vehicles among institutional investors. It also points towards a brighter future for Solana’s market participation, potentially impacting price stability and liquidity within the ecosystem.