A new weekly report on the movement of funds in the exchange-traded product (ETP) market with a focus on cryptocurrencies has been released by CoinShares. One of the main highlights of the latest research is the performance of Cardano ETPs, with investors using these financial instruments for crypto investments gaining 300% more money in the past seven days than the previous week. Poured into Cardano ETP.
As a result, $300,000 was added to the ETP centered on ADA tokens. Since the beginning of this year, Cardano has seen $13 million in inflows, and its ETP provider has a total of $49 million in assets under management.
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According to these parameters, Cardano is at the end of the list of cryptocurrencies with its own ETP, but at least it has an ETP.
Source: CoinShares
XRP glows green, Bitcoin and Ethereum glow red
Another highlight may have been another consecutive month of new inflows into XRP ETPs. That’s because the seventh-largest cryptocurrency continues to capture the attention of investors around the world through direct and indirect means such as exchange-traded products.
This week’s total inflows into XRP ETPs were only $300,000, but since the beginning of the year, that amount now stands at $24 million, with assets under management of $86 million, which is significant.
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The fact that Cardano and XRP have recorded inflows into their investment products, while massive outflows from Bitcoin and Ethereum, has also added to the positive sentiment. The crypto ETP market’s overall weekly results were still driven by these two largest cryptocurrencies, with net outflows of $147 million by the end of the week.
