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"Cardano (ADA) has witnessed a massive 300% surge in Exchange Traded Product (ETP) inflows. The unexpected influx of capital from institutional investors could set the stage for a potential uptrend ahead of the Chang hard fork. Cardano Inflows Skyrocket 300% On July 29, CoinShares, a leading firm in the crypto ETP industry, released a weekly report on the fund flows of various digital assets. According to CoinShares, digital asset investment products saw a relatively muted inflow of approximately $245 million in the last week. Related Reading: Technical Indicators Show Strong Bitcoin Bullishness – New ATH On The Horizon? Among the list of digital assets which recorded new flows, Bitcoin (BTC) recorded the largest increase in inflows. The pioneer cryptocurrency experienced a healthy inflow of $519 million, achieving a month to date inflows of $3.6 billion. More impressively, Cardano recorded a surge in inflows into its ETP, totaling approximately $1.2 million. This massive inflow surge represents a whopping 300% addition from the previous week. Furthermore, Cardano’s strong performance has effectively placed it second among all crypto ETPs. Sharing a “Flows by Asset” chart of Cardano and various other prominent cryptocurrencies, CoinShares reports that institutional investors have invested a total of $11 million into Cardano-oriented investment products. Additionally, Cardano’s month to date inflow has seen about $2.4 million. During its report, CoinShares also revealed that the... Show more

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