Cryptocurrency funding merchandise noticed their highest weekly inflows ever final week, as buyers poured $3.85 billion into these funds amid a cryptocurrency market rally that noticed the value of Bitcoin briefly high the $100,000 mark earlier than correcting decrease.
Based on CoinShares’ Digital Asset Fund Flows report, Bitcoin-focused funding merchandise noticed a $2.56 billion influx final week, whereas merchandise providing publicity to Ethereum’s Ether, the second-largest cryptocurrency by market capitalization noticed $1.15 billion inflows, a file excessive for these merchandise.
Merchandise providing publicity to the native token of the XRP Ledger, XRP, additionally saved out with $134.3 million inflows, almost half of the $275 million influx these merchandise have seen year-to-date, in response to the report.
The value of XRP surged greater than 11% over the previous week to hit a close to $2.65 excessive earlier than correcting together with most different digital belongings. The cryptocurrency noticed an exponential rise over the previous month, surging by 337% within the interval from round $0.55 to a $2.9 excessive. On the time of writing, XRP is buying and selling at $2.4.
Funding merchandise providing buyers publicity to Cardano’s ADA, which additionally noticed a major worth surge during the last 30-day interval, noticed $5.2 million inflows, round one-quarter of the inflows these merchandise have seen to date this yr.
Different alt cash, together with Binance’s BNB, Litecoin, and Chainlink, noticed inflows between $2.2 million and $0.7 million, whereas merchandise shorting the flagship cryptocurrency Bitcoin noticed $6.2 million inflows.
Outflows, the report reveals, have been seen for merchandise providing publicity to a number of digital belongings, and for merchandise providing publicity to common sensible contract platform Solana. These noticed $6.3 million and $14.1 million outflows, respectively.
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