XRP and Solana Attract Attention as Crypto Funds Gain $572 Million
The latest CoinShares report reveals that global digital asset funds attracted $572 million in new investments last week. Key highlights include:
- Ethereum products led with $268 million in inflows, raising year-to-date totals to $8.2 billion.
- Bitcoin recorded $260 million in inflows, recovering from two weeks of losses.
- Solana saw $21.6 million in inflows, totaling $874 million for the year.
- XRP attracted $18.4 million, bringing its year-to-date total to $1.1 billion.
The market rebound followed a U.S. government decision to permit digital assets in 401(k) retirement plans, resulting in a total of $1.57 billion in inflows during the latter half of the week. This offset earlier outflows of $1 billion due to weak U.S. payroll data.
Regional inflows were highest in the U.S. at $608 million, while Canada contributed $16.5 million. Europe experienced a decline, losing $54.3 million across Germany, Sweden, and Switzerland.
Despite these gains, overall trading volumes in digital asset investment products fell by 23% compared to the previous month, attributed to slower summer activity. Investor sentiment remains positive as they monitor market momentum.
Crypto Fund Inflow Chart | Source: CoinShares