Market sentiment around major altcoins finally seems to be improving after several rough weeks.
According to the data provided by SoSoValue, there has been an uptick in institutional capital entering spot exchange-traded funds (ETFs).
The growing institutional interest has also led to some notable bullish momentum within the altcoin sector.
Solana (SOL) has reclaimed the $90 price level while the Ripple-affiliated XRP is trading around $1.46.
However, with Bitcoin remaining on rather shaky ground, altcoins might not be out of the woods just yet.
Much-needed recovery
The XRP ETF market is currently commanding a total market capitalization of $592.92 million.
Fund flows have remained positive for four consecutive trading days.
The Canary XRP ETF (XRPC) leads the pack in terms of total assets with an impressive $287.20 million market cap. However, the Bitwise XRP ETF (XRP) is capturing the lion's share of daily activity with $11.78 million in trading volume over the last 24 hours alone.
The Franklin XRP ETF (XRPZ) also maintains a strong foothold with a $227.15 million market cap and $4.03 million in daily volume.
The Solana ETF market is currently experiencing similar bullish momentum. The total market capitalization for SOL ETFs currently sits at $375.89 million.
The Bitwise Solana Staking ETF (BSOL) is the absolute heavyweight in the category, holding a commanding $271.49 million market cap.
The Fidelity Solana Fund (FSOL) manages $33.91 million. Smaller offerings include funds from VanEck and 21Shares.
Dan Burgin
U.Today Editorial Team
