Ethereum investment products have surged ahead of Bitcoin, while XRP achieved unprecedented inflows according to the latest market data.
The digital asset market witnessed contrasting movements last week, with Bitcoin experiencing outflows of $457 million - its first major withdrawal since September. This pullback comes as BTC tested highs, suggesting profit-taking by investors.
Meanwhile, Ethereum products attracted $634 million in fresh capital, pushing its year-to-date inflows to $2.2 billion. This exceeds ETH's previous record of $2 billion set in 2021, marking a dramatic shift in investor sentiment toward the second-largest cryptocurrency.
XRP emerged as another standout performer, drawing $95 million in inflows - its highest ever recorded figure. Market observers attribute this surge to growing speculation around a potential US-based XRP ETF launch.
Other altcoins also saw positive flows, with Cardano and Chainlink attracting $0.9 million and $0.8 million respectively. However, multi-asset products and Solana faced withdrawals of $16.3 million and $3.8 million.
The overall digital asset investment landscape brought in $270 million last week, contributing to a record-breaking annual inflow of $37.3 billion. Geographically, the United States led with $266 million in inflows, while Hong Kong and Germany followed with $38.7 million and $12.3 million respectively.
Despite high initial volumes from newly launched US ETF options, ETP trading volumes declined from $34 billion to $22 billion week-over-week. This suggests investors may be exploring different investment vehicles within the cryptocurrency market.
This shifting dynamic between Bitcoin and alternative cryptocurrencies indicates evolving investor preferences in the digital asset space, with ETH products and XRP gaining notable traction among institutional investors.