In what is certainly a noted shift in investor perspectives, both Ripple (XRP) and Cardano (ADA) benefitting from a $708 million ETF rally. Specifically, data from Coinshares noted the impressive inflows that the ETF crypto market saw over the last week. Subsequently, a few assets were undoubtedly winners.
The year-to-date inflows for the ETF market had seen a remarkable increase of $1.6 billion. Although Bitcoin had dominated with 99% of the total, other assets were prominently featured. Indeed, both XRP and ADA were clear standouts from the gathered data.
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Ripple and Cardano Benefit From Massive ETF Rally
For the digital asset market, the presence of exchange-traded funds has taken a massive step forward in recent months. Amid the arrival of 11 Spot Bitcoin ETFs, the investment landscape for cryptocurrencies has undergone a monumental shift. Now, several assets are proving to benefit from the change.
According to recent data, both Ripple (XRP) and Cardano (ADA) had benefitted from a massive $708 million surge in cryptocurrency’s ETF market. Although Bitcoin dominated that discussion with $703 of total investments, the two other assets made notable strides that could propel them to becoming rather interesting developments.
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XRP-centered investment offerings saw $100,000 in inflows. Although this may not seem earth-shattering, contextually it is massively important. Specifically, just last week the asset saw outflows reach $400,000. Additionally, year-to-date inflows for XRP have now reached $3 million remarkably.
Alternatively, ADA saw $600,000 in fund inflows over the last week. Again, that performance is impressive as its outflows last week mirrored the performance of Ripple (XRP). Similarly, the overall year-to-date figures for Cardano are at a remarkable $5 million in inflows.
The crypto ETF market will surely continue to grow in the coming months. Moreover, the prevalence of assets like Cardano and XRP shows the diversification potential for investors. Although Bitcoin is undoubtedly atop the pile of investment interest, these victories provide important notes that could incite future performance for other altcoins.