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Digital asset investment products posted their fourth straight week of inflows, CoinShares reported Monday, with such products bringing in $137 million last week.
Over the past several weeks, inflows have totaled $742 million, according to the report, marking the longest streak of inflows since the fourth quarter of 2021.
Last week, in particular, was a milestone for the cryptocurrency industry. As well as asset management giants refilling their apps to launch a bitcoin spot (USD-BTC) exchange-traded fund, investors praised a judgment of an American judge than Ripple Labs' XRP crypto asset (USD-XRP) can be considered a commodity in some cases.
Ripple news led altcoins including XRP (USD-XRP), ethereum (ETH-USD) and cardano (USD-ADA), to outperform bitcoin (USD-BTC) for the week ending July 14, as seen in this graph.
While the price of bitcoin (USD-BTC) slid last week, funds that track the token saw inflows totaling $140 million, accounting for 99% of all inflows, CoinShares noted.