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Cardano and Solana Continue to See Inflows While Ethereum Records Outflows

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Wed, 10/13/2021 - 09:21
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Alex Dovbnya
Ethereum funds and products saw $14 million worth of outflows last week, while Cardano and Solana are in the green
Cardano and Solana Continue to See Inflows While Ethereum Records Outflows
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According to a report published by CoinShares, cryptocurrency funds have extended their streak of inflows, raking in over $226 million last week.

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Image by coinshares.com

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Grayscale's Bitcoin Fund Premium Reaches New Lows Prior to Potential Launch of Bitcoin ETFs
Bitcoin accounted for the lion's share of the aforementioned figure with $225 million. This development is not surprising since the narrative about U.S. securities regulators potentially approving a futures-based Bitcoin exchange-traded fund has been driving the cryptocurrency's prices higher.

Solana and Cardano recorded minor inflows of $12.5 million and $3 million, respectively.

Ethereum funds, on the other hand, hemorrhaged $14 million. The second-largest cryptocurrency is down nearly 25% from the start of September.

XRP, Polkadot, Litecoin are also in the red.

Leading cryptocurrency money manager Grayscale has $49.5 billion worth of assets under management, according to its latest update.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.