Cryptoasset investment products saw inflows totaling $109 million last week, with products tied to the flagship cryptocurrency Bitcoin seeing the lion’s share of those inflows. As for altcoins, Solana ($SOL) and Avalanche ($AVAX) investment products led the pack.

According to CoinShares’ latest report, Bitcoin-related investment products saw $89 million worth of inflows, with the figure being relatively low for the flagship cryptocurrency. The firm noted that in the last five weeks BTC product inflows totaled $221 million, representing 0.7% of total assets under management.

Ethereum, the second-largest cryptocurrency by market capitalization, saw over $15 million worth of outflows, while products offering investors exposure to Binance’s BNB saw outflows of around $500,000.

Solana-based investment products notably saw inflows of $1.2 million as its year-to-date inflows now total $12 million. In contrast, Cardano and $XRP investment products saw $3 million and $5 million inflows year-to-date, respectively.

Multi-asset investment products, which may represent a wider bet on the cryptocurrency market, notably saw $9.4 million inflows last week, which helped their total inflows year-to-date reach $69 million.

Source: CoinShares

Ethereum competitor Avalanche saw $25 million worth of institutional inflows last week, although CoinShares noted these occurred in a single day, meaning it’s “too early to tell if this represents broader appetite for the altcoin.”

As CryptoGlobe reported, Morgan Stanley’s wealth management global investment office has published a report on the second-largest cryptocurrency by market capitalization earlier this month, noting it could lose market dominance to competitors like Cardano ($ADA), Tezos ($XTZ), and Solana ($SOL) over its transaction costs.

The investment bank’s analysts added that because of the heightened competition it faces, Ethereum poses a greater investment risk than bitcoin, with fewer transactions per user being needed to use BTC, which is “akin to a decentralized savings account,” while ETH demand is “tied more closely to transactions.”

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