The crypto exchange-traded fund (ETF) market saw a notable jump during a busy week for digital asset investments, with total inflows hitting an astonishing $708 million, according to CoinShares. The year-to-date inflows reached an incredible $1.6 billion thanks to this surge.
The leading cryptocurrency, Bitcoin, ruled the scene, accounting for a healthy 99% of all weekly inflows. An astounding $703 million was invested in the company’s investment products, demonstrating the ongoing trust that investors have in it. But the attention was also on cryptocurrencies, with Cardano and XRP in particular standing out as top achievers in terms of money flows.
Investment products focused on XRP had a significant upturn, registering an astounding $100,000 in inflows of funds. This is a huge win for XRP, especially in light of the $400k outflows from the prior week. The total amount of money invested in XRP so far this year is a noteworthy $3 million.
Another major participant in the altcoin market, Cardano, demonstrated an even more significant comeback. Given the $400,000. withdrawals the week before, Cardano’s success last week with $600,000 in fund inflows is nothing short of remarkable. As of right now, Cardano has received an astounding $5 million in inflows this year.
Compared to other cryptocurrencies, Solana is the only one that is in the running, with an impressive $4 million in inflows this year. As a result, XRP and Cardano are now leading the altcoin comeback, proving their tenacity and investor appeal.
The impressive success of XRP and Cardano indicates a growing trend of investor diversification as the crypto ETF industry continues to develop. The latest surge not only confirms Bitcoin’s hegemony but also emphasises the growing popularity of altcoins, with Cardano and XRP at the forefront of the digital asset investing space.
