Institutional investors are showing sustained interest in cryptocurrencies like Bitcoin, Solana, and XRP, despite prevailing market skepticism. Recent data reveals that digital asset investment products have experienced consistent inflows of $15 million for three consecutive weeks, even as trading volumes remain 27% below the 2023 average.

Bitcoin-centric exchange-traded products (ETPs) attracted an additional $16 million last week, bringing the year-to-date total inflows to $260 million. Interestingly, short Bitcoin investment products also received inflows of $1.7 million, indicating a persistent bearish sentiment among certain investors.

Altcoins Solana and XRP maintained stability, with XRP achieving its 25th week of consecutive inflows following Ripple’s legal victory against the U.S. Securities and Exchange Commission (SEC). However, Litecoin and Chainlink faced challenges, experiencing outflows of $0.28 million and $0.31 million respectively.

Ethereum witnessed significant sell-offs, with outflows totaling $7.5 million last week, despite the recent launch of a futures-based Ethereum ETF. Notably, this occurred simultaneously with Ethereum Foundation’s Vitalik Buterin and other large holders selling off their Ethereum holdings.

The SEC’s decision not to appeal against Grayscale’s proposal to convert GBTC into a spot Bitcoin ETF has stimulated increased Bitcoin inflows. In the first week of October alone, digital assets saw $78 million in inflows. Bloomberg ETF analysts predict a 90% chance of approval for a spot Bitcoin ETF by the SEC.

CoinShares Digital Securities and Purpose Investments reported substantial gains from investors primarily in Germany, the U.S., and Canada. With Bitcoin trading at $27,678, up nearly 3%, there appears to be an ongoing accumulation trend among Bitcoin whales.