Solana

Bitcoin ETF

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<p dir="ltr">The performance of digital assets shocked market watchers as different products witnessed a significant second week of <a href="https://u.today/bitcoin-spot-etfs-explode-with-158-million-inflows-details" rel="noopener noreferrer nofollow">positive inflows</a>. The crypto space recorded a massive $321 million to stay green at the close of trading.</p>
<h2 id="etf-products-propel-bitcoin-s-success">ETF products propel Bitcoin’s success</h2>
<p dir="ltr">Some have attributed this surge to the 50-basis-point interest rate cut by the U.S. Federal Open Market Committee (FOMC). In a chart showing flows of different assets, Bitcoin topped the list, with $284 million to justify its title as the world’s leading cryptocurrency. On the other hand, Ethereum recorded a fifth successive week of outflows to approximately $29 million.</p>
<p dir="ltr">Other single-digit performers are Multi-Asset, whose weekly inflow stood at $54.2 million. This leaves a huge distance to short Bitcoin and Solana, with entries of $5.1 million and $3.2 million, respectively.</p>
<p dir="ltr">Notable spot Bitcoin ETF products that contributed heavily to the inflows include Fidelity and Ark 21Shares, which had $138 million and $102 million, respectively. Others include Bitwise ETF and BlackRock iShares, which had $67 million and $30 million, respectively. Grayscale Investments remained in the financial woods with a significant outflow of $65 million.</p>
<p dir="ltr">The United States remains in the leading position regarding exchanges, with the highest inflows in the past week. The U.S. recorded $277 million in inflows, compared to second-placed Switzerland's $63.4 million.</p>
<p dir="ltr">However, exchanges in Germany, Sweden, Canada and Hong Kong saw outflows of $9.5 million, $7.8 million, $2.3 million and $1.3 million, respectively.</p>
<h2 id="ethereum-and-xrp-show-mixed-results">Ethereum and XRP show mixed results</h2>
<p dir="ltr">Ethereum, the only altcoin with a spot ETF product, registered its fifth successive outflow, largely due to persistent outflows from Grayscale Trust. Other products have not recorded significant inflows to cancel out the outflows.</p>
<p dir="ltr">Meanwhile, Solana has maintained consistency in its inflows. Last week, its total performance stood at $3.2 million. Although two asset managers – VanEck and 21Shares – have filed for a <a href="https://u.today/when-solana-and-xrp-etf-this-etf-expert-has-idea" rel="noopener noreferrer nofollow">Solana ETF</a> with the regulatory authority, notable experts believe the next U.S. president will likely influence approval.</p>
<p dir="ltr">While Ethereum and Cardano registered outflows, <a href="https://u.today/xrp-fails-to-hold-above-key-level-does-it-matter" rel="noopener noreferrer nofollow">XRP</a> stayed green with an inflow of $0.1 million. However, at the time of writing, <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">the XRP price</a> had dipped by 1.16% to trade at $0.5867. Market volume was also down by 14.51% to $968,589,368 in the past 24 hours.</p>

Crypto Flows Top $321 Million, BTC, ETH and XRP Stun Market

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