- Ethereum saw $700 million in ETF inflows, with whales pulling $393 million
- Rumors of a BlackRock XRP ETF are going around
- SUI experienced a 300% surge in trading volume recently, coinciding with Nasdaq’s filing for a 21Shares spot SUI ETF
An X post from Altcoin Buzz states that there is a big institutional interest in cryptocurrencies such as ETH, XRP, HBAR, and SUI.
More precisely, Ethereum saw $700 million in ETF inflows, with whales pulling $393 million. From the looks of it, Pectra upgrade and improving the US regulatory outlook (for instance, SEC softening on DeFi) are boosting sentiment.
While Ethereum is an institutional favorite, other cryptocurrencies saw some good numbers as well. XRP recorded $19 million in inflows in early June, and there are rumors of a BlackRock XRP ETF going around. Additionally, Nasdaq-listed Weebis International has plans for a $300 million XRP-backed reserve.
Smart money also set its eyes on HBAR (Hedera), where the cryptocurrency has recently seen approximately $185 million in inflows, tied to enterprise adoption, AI use case partnerships, and the launch of a 21Shares ETP (exchange-traded product) on Euronext.
SUI registered a boost too, as it has experienced a 300% surge in trading volume recently, coinciding with Nasdaq’s filing for a 21Shares spot SUI ETF. Furthermore, its Total Value Locked (TVL) is climbing back toward $2 billion, likely fueled by the ETF narrative.
Taking the above data into consideration, the altcoin market is warming up, and smart money is strategically deploying capital across a mix of safe large-cap bets, narrative-driven assets, enterprise-focused projects, and emerging breakout L1s.
Bitcoin dominance
The Bitcoin dominance metric fell to about 63% at the start of this month, before going close to 65% as of today. Past trends had similar dips, which were preceded by major altcoin rallies. At the moment, altcoin trading volume is up by approximately 9%.
It seems that the capital movement into the mentioned altcoins suggests smart money is steering away from Bitcoin into assets with stronger yield and utility narratives. At least that’s the situation now, as there is always regulatory sensitivity present, primarily for XRP and SUI ETF outcomes. Depending on the SEC decisions, any delays or rejections could reverse recent momentum.
In the end, ETH leads and draws the most capital, but XRP, HBAR, and SUI follow with seemingly specialist narratives, particularly in staking, enterprise, and tokenized access.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
