CoinShares’ latest weekly report on crypto-related ETF inflows highlights a substantial addition of $245 million to the market last week. The year-to-date figure is now positive, starting at $20.48 billion. Bitcoin, the largest cryptocurrency, dominated last week’s inflows. Several ETFs from major financial institutions, including BlackRock and Franklin Templeton, contributed significantly. These investment vehicles saw inflows of $519 million over the past seven days, representing a staggering 97.9% of all funds flowing into crypto-related investment products during this period.

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Cardano Among Top Gainers

However, other digital assets also showed remarkable momentum, though not to the same extent as Bitcoin. Notably, Cardano (ADA) emerged as a significant winner. Inflows into Cardano ETPs totaled $1.2 million last week, marking a 300% increase from the previous week. This surge positions Cardano second among all crypto ETPs.

_{Source: CoinShares}

Since the start of 2024, Cardano-oriented investment products have attracted a total of $11 million from traditional investors. This substantial inflow underscores growing interest and confidence in Cardano’s potential.

Anticipation of Cardano’s Chang Hard Fork

The dramatic increase in Cardano’s inflows can be attributed to the upcoming Chang hard fork. This hard fork is poised to bring ultimate decentralization to Cardano. Once implemented, the popular blockchain’s treasury will be managed through voting by ADA stakeholders. Moreover, the adoption of the Cardano Constitution will solidify all principles and rules of decentralized governance for the blockchain.

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With the hard fork scheduled for this year, it is plausible that investors are positioning themselves through Cardano ETPs in anticipation of these developments. This strategic move likely explains the rising flows into Cardano investment products.

The recent trends underscore a bullish sentiment in the crypto market, with Bitcoin leading the charge and Cardano attracting significant investor interest due to its upcoming developments.