Inst and ETH vs SOL (Patreon)

The number one thing I hear is that yeah Salon is great for mayne coins but no good for institutions. That's where the money is. And then I contract that with things like PayPal and Visa so clearly it's not the case but the team Aslam is aware of the opportunity that exist with institutions. Let's take into some of the uptake right now.

Surge in Institutional Interest

Solana has experienced a remarkable increase in institutional interest over the past few months, indicating growing confidence in its blockchain technology and potential.This surge is evident from several key developments:

ETF Filings and Approvals

• VanEck and 21Shares, major asset management firms, have filed for Solana ETFs in the United States.

• Brazil has already approved the world's first Solana ETF, putting it ahead of the U.S. in this regard.

Recognition by Major Financial Institutions

• Franklin Templeton, managing $1.53 trillion in assets, has identified Solana as part of the "big three" of this market cycle, alongside Bitcoin and Ethereum.

• Hamilton Lane, overseeing $857 billion in assets, launched the first institutional-grade private credit fund on the Solana blockchain.

Institutional Inflows

• Solana investment products have seen significant year-to-date (YTD) net inflows of $29 million as of June 2024.

• In September 2024, Solana-based investment products witnessed inflows of $6.2 million in a single week, bringing their YTD inflows to $47 million.

• A remarkable 7,600% surge in institutional inflows was reported in September 2024, highlighting a sharp change in sentiment towards Solana.

Factors Driving Institutional Interest

• Scalability and Low Transaction Costs: Solana's blockchain is known for its high throughput and low fees, making it attractive for institutional applications.

• Growing DeFi and NFT Ecosystem: Solana's expanding decentralized finance (DeFi) and non-fungible token (NFT) markets have caught the attention of institutional investors.

Institutional Data Needs and Solutions

As institutional interest in Solana grows, so does the demand for reliable and comprehensive data solutions. Step Finance has positioned itself to meet these needs. The Chain still needs more Step like players.