Bitcoin ETFs Drive $724 Million Inflows, XRP and Solana Lead Altcoin Gains Amid Ethereum Outflows

In the week ending March 21, 2024, Bitcoin ETFs propelled a $724 million inflow, marking its largest since January, according to CoinShares. The U.S. led this recovery with $632 million, significantly boosted by BlackRock's IBIT. Switzerland, Germany, and Hong Kong followed with $15.9 million, $13.9 million, and $1.2 million inflows, respectively. Despite the positive trend, Ethereum-based ETPs experienced $86 million in outflows for the fourth consecutive week. This downturn impacted the altcoin market, with Sui and Polkadot each seeing $1.3 million outflows and Tron losing $950,000. XRP and Solana stood out, attracting $6.71 million and $6.44 million, respectively. XRP's gains coincided with the SEC dropping its lawsuit against Ripple Labs, while Solana benefited from anticipation of a potential futures ETF in the U.S.