Source: Cointelegraph Original: "{title}"

According to data from digital asset investment firm CoinShares, in the week ending March 21, Ripple (XRP) and Solana led all altcoin-based exchange-traded products (ETPs) in inflows.

Other altcoins saw relatively small inflows, with Polygon (MATIC) recording $400,000 and Chainlink (LINK) increasing by $200,000.

Overall, market sentiment towards altcoins remains complex, with significant outflows from Ethereum (ETH) totaling $86 million. Additionally, Sui (SUI), Polkadot (DOT), and Tron (TRX) recorded outflows of $1.3 million, $1.3 million, and $950,000, respectively.

Despite the large outflows from Ethereum dragging down the altcoin sector, the overall digital assets reversed five consecutive weeks of net outflows, recording inflows of $64.4 million. Bitcoin (BTC) became the main driver of the recovery, with inflows reaching $72.4 million, ending five weeks of negative growth.

Ethereum outflows led to a decline in altcoin ETP performance, but Bitcoin drove digital assets. Source: CoinShares

According to Cointelegraph, Ethereum has recorded weekly net outflows for four consecutive weeks, while Bitcoin has seen its largest net inflow since January.

Related: Bitcoin ETF records net inflow for the first time in weeks, while Ethereum outflows continue

CoinShares noted that most of the inflow came from the United States, primarily driven by BlackRock's iShares Bitcoin Trust (IBIT), which accounted for $63.2 million.

However, positive sentiment is not limited to the U.S.; Switzerland performed outstandingly among other global regions, recording inflows of $15.9 million, followed by Germany ($13.9 million) and Hong Kong ($1.2 million).

Canada and Sweden led the outflows. Source: CoinShares

Despite the overall net outflow from altcoins due to Ethereum's poor performance, Solana and Ripple (XRP) still performed well.

For Solana, the upcoming launch of the first Solana futures exchange-traded fund (ETF) in the U.S. could pave the way for a future Solana spot ETF.

Related: Ripple (XRP) and Solana compete for the next crypto ETF approval

For Bitcoin, the approval of futures ETFs was initially recognized by regulators due to the existence of a regulated market (Chicago Mercantile Exchange), which provides safeguards against potential market manipulation. However, this has also sparked controversy over the U.S. Securities and Exchange Commission's (SEC) continued rejection of spot Bitcoin ETFs that directly hold cryptocurrencies.

Grayscale's key lawsuit successfully challenged this inconsistency, forcing the SEC to reevaluate its position and ultimately paving the way for the long-awaited approval of a spot Bitcoin ETF.

Meanwhile, Ripple (XRP) received a significant boost due to the SEC's recent dismissal of its long-standing lawsuit against Ripple Labs.

Magazine: Memecoins have perished — but despite declining revenues, Solana is "100 times better"

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