Cryptocurrencies Bitcoin (BTC) and XRP are showing increased interest from traditional investors, which were highlighted by substantial inflows into exchange-traded products (ETP) registered last week, as reported in data shared by CoinShares on October 16.
According to the survey, investment products in digital assets recorded inflows for the third consecutive week, totaling US$15 million. The largest cryptocurrency on the market saw inflows of US$16 million last week. At the time of publication, the price of Bitcoin was quoted at US$28,271.18, up 5.4% in the last 24 hours. BTC has seen a growth in its price of 3.1% in the last seven days.
Ripple’s native cryptocurrency, XRP, saw inflows totaling US$0.42 million last week. The movement marks the 25th consecutive week of inflows into XRP in 2023. At the time of publication, the price of XRP was quoted at US$0.498430, up 2.5% in the last 24 hours.
Contrary to last week’s inflows are altcoins in general, with Tezos (XTZ), Litecoin (LTC) and Chainlink (LINK) recording outflows totaling US$0.25 million, US$0.28 million and US$0 .31 million respectively.
The report also highlighted that the largest altcoin, Ethereum, is experiencing little investor appetite, with outflows of US$7.5 million recorded last week.
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