There seems to be a clear winner in terms of investors’ behavior toward crypto-based exchange-traded funds, and it’s not the two market leaders, BTC and ETH.
The financial vehicles tracking the performance of Ripple’s cross-border token continue to defy the overall market weakness with another week in the green. The HYPE ETFs also marked another positive week, but it was a significant decline from the previous one.
Ripple ETF Streak on Track
After the impressive end to the previous business week, in which investors poured $15.63 million into the spot XRP ETFs on Friday, hopes for another strong start were high. And the numbers provided by SoSoValue show that reality wasn’t far away, as another $15.34 million entered the ETFs on Monday.
However, the trend changed on Tuesday and Wednesday. Net withdrawals dominated, with investors pulling out $2.83 million and $1.86 million, respectively. This was a rare occasion since the funds have not seen too many red days lately despite the broader ETFs’ trend. The last one was a month ago, on June 3.
Moreover, the last time when there were two consecutive days in the red was nearly three months ago, in early March. However, unlike the events back then, the tides reversed once again, as the funds saw $6.55 million net inflows on Thursday (the last trading day of the week due to the July 4 holiday).
Consequently, the week ended well in the green again, with net inflows of $17.19 million. Thus, the spectacular streak of green-only weeks continues, as the last one (barely) in the red was in late April/early May.
Perhaps driven by the positive developments on the ETF scene, the underlying asset’s price has risen by over 8% in the past week and now sits close to $0.15.
HYPE ETFs Also in the Green
The HYPE ETFs also enjoyed the last full business week of June, seeing a massive net inflow of $111.36 million, which was by far the largest ever. Although the past four-day business week was also in the green, it was a lot more modest, with just $4.32 million entering the funds.
Nevertheless, the cumulative total net inflows sit at an all-time high of almost $300 million, despite the $3.01 million leaving the ETFs on Tuesday.
Source: CryptoPotato
