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Surge in XRP and Solana ETP Inflows
XRP and Solana have emerged as the top performers in altcoin-based exchange-traded product (ETP) inflows for the week ending March 21. According to CoinShares, XRP saw inflows of $6.71 million, while Solana attracted $6.44 million.
Ethereum Experiences Significant Outflows
In contrast, Ethereum-based ETPs faced substantial outflows, totaling $86 million during the same period. This marks the fourth consecutive week of net outflows for Ethereum, indicating a shift in investor sentiment.
Bitcoin Breaks Five-Week Outflow Streak
Despite Ethereum’s downturn, digital assets collectively recorded net inflows of $644 million, breaking a five-week streak of outflows. Bitcoin led this recovery with inflows amounting to $724 million, snapping its own five-week negative trend.
Regional Insights: U.S. Leads Inflows
The majority of these inflows originated from the United States, accounting for $632 million, primarily driven by BlackRock’s iShares Bitcoin Trust (IBIT). Other regions also showed positive sentiment, with Switzerland seeing $15.9 million in inflows, followed by Germany with $13.9 million, and Hong Kong with $1.2 million.
Future Prospects for Solana and XRP
Solana’s strong performance coincides with the U.S. market’s anticipation of introducing its first Solana futures exchange-traded funds (ETFs), potentially paving the way for a future spot Solana ETF. Meanwhile, XRP has benefited from the recent dismissal of the SEC’s long-running lawsuit against Ripple Labs, boosting investor confidence.
