In CoinShares’ recent report, Bitcoin (BTC) and XRP have shown continued appeal to traditional investors, marked by substantial inflows into exchange-traded products (ETPs) oriented around these popular cryptocurrencies over the past week.
Thus, Bitcoin-focused ETPs attracted $16 million, bringing year-to-date inflows to $260 million. On the other hand, however, short Bitcoin investment products recorded inflows of $1.7 million, indicating that there are still bearish-minded investors in the market.
For their part, XRP-oriented investment products demonstrated notable resilience, receiving $0.42 million last week, marking the 25th consecutive week of positive fund flows. Despite legal challenges throughout the year, consistent investor support for XRP was and remains evident.
Backing out
It’s not so bright there, however, as the report also revealed challenges facing certain altcoins. Among others, the Litecoin (LTC) and Chainlink (LINK) ETPs, which experienced outflows totaling $0.28 million and $0.31 million, respectively, indicate a challenging period for these digital assets.
The crypto market’s top altcoin has also found itself in the mud as Ethereum, despite the launch of a futures ETF, has faced investor reluctance, with outflows totaling $7.5 million per week. pass. These outflows, which partially offset the previous week’s significant inflows, can be attributed to concerns over the design of the Ethereum protocol.
In summary, Bitcoin and XRP continue to attract investor interest, as reflected in the data in the report. While challenges remain for certain altcoins and Ethereum faces investor doubts, sustained inflows into BTC and XRP indicate positive trends at least for these two popular digital assets.
