Solana just posted the second-biggest week in history, despite the choppy market

The Fed’s aggressive stance froze the market, leading institutions to dump Bitcoin last week, but Solana funds soared.

Digital asset investment products recorded outflows of $360 million last week, despite the market recently digesting yet another US interest rate cut. The selling pressure was not caused by the rate cut itself, but by the way investors read Fed Chairman Jerome Powell’s language at the post-FOMC press conference.

Powell made clear that another cut in December is “not a foregone conclusion,” a surprisingly hawkish announcement that appears to have disrupted sentiment in the market, especially in the absence of high-impact U.S. macro data releases that could have helped traders re-anchor expectations.

Doubling exposure to Solana

But while the overall flow figure was negative, Solana arose again as the standout winner after bringing in $421 million in inflows last week. This is the second-largest weekly figure ever, largely driven by inflows into the new US ETFs, which took Solana’s year-to-date total to $3.3 billion, according to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report.

Ethereum also saw net inflows of $57.6 million, although the daily flow pattern still shows mixed beliefs among investors. XRP came next with $43.2 million, followed by Sui with $9.4 million, Litecoin with $1.5 million, Cardano with $0.7 million and Chainlink with $0.5 million. Multi-asset ETPs added another $8.3 million.

But the resistance came from Bitcoin. US Bitcoin ETFs saw massive outflows of $946 million.

The United States remained the epicenter of last week’s fund pessimism, as $439 million disappeared from U.S. listed investment vehicles. Sweden added another $11 million in outflows over the same period. N. This weakness was partially offset by other regions. For example, Germany welcomed $32 million, while Switzerland received $30.8 million.

Canada, Australia and Brazil had smaller but positive totals of $8.5 million, $7.2 million and $1.3 million.

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