Bitwise Monopolizes 9.03 Million Solana (SOL)... 'Buying the Dip' Frenzy Whenever It Falls

▲ Solana (SOL)/AI-generated image

Bitwise bought $107.4 million worth of Solana (SOL) over 20 trading days.

According to U.Today on September 10 (local time), Bitwise's Solana ETF has seen continuous capital inflow over the past month. Arkham Intelligence data shows that Bitwise purchased approximately $107.4 million worth of Solana over the recent 20 trading days. During this period, there were only two trading days with outflows. Most of the remaining trading days recorded net inflows.

U.Today reported that institutional investors' interest in Solana is increasing despite the ongoing volatility in the cryptocurrency market. It explained that there has been a trend of utilizing Solana's recent weakness as an opportunity to enter investment products. Bitwise's large-scale purchases also coincided with new funds flowing into Solana ETFs.

The amount of Solana held by Bitwise also approached $1 billion. As of September 10, its holdings exceeded 9.03 million SOL. U.Today estimated the value of this amount to be approximately $918 million. The remaining gap to $1 billion is approximately $82 million.

These purchases occurred even as the pace of capital inflow into the Solana ETF market was not significant. However, net inflows were observed on 18 out of the recent 20 trading days. Bitwise's Solana holdings also exceeded 9.03 million SOL, nearing the $1 billion mark.

[Article Summary]

-Bitwise purchased $107.4 million worth of Solana over the recent 20 trading days.

-During the same period, only two trading days saw outflows from Bitwise's Solana ETF.

-Bitwise's Solana holdings exceeded 9.03 million SOL, with an estimated value of approximately $918 million.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*