In the most recent report on cryptocurrency fund flows from CoinShares, there’s been a significant change in the investment landscape for digital currencies. Among all the assets, XRP has stood out with an impressive gain. While there was a total withdrawal of $126 million from investment products for digital assets last week, XRP-focused funds have gone against the trend and received inflows amounting to $300,000.
There’s been a striking increase of 300% over the last week in the demand for XRP-linked financial products, indicating a strong rise in investor confidence towards XRP.
Since the start of the year, XRP has gathered a total investment inflow of $11 million. This places XRP among the top altcoins, surpassing Solana and Cardano in attracting funds. Nevertheless, it lags behind Ethereum, Litecoin, and Polkadot in overall fundraising efforts.
XRP investments have seen a rise recently, but this trend emerges as market conditions change. Bitcoin managed to maintain positive investment over the past month despite losing $110 million in weekly inflows. On the other hand, Ethereum encountered continuous difficulties with $29 million leaving its market for five consecutive weeks.
When XRP ETF?
Although there’s been a significant increase in investment in XRP-related products recently, discussions about a complete XRP Exchange-Traded Fund (ETF) have become less frequent in the past few months. In contrast, focus on Ethereum ETFs has increased, with approval chances becoming increasingly slim as the May 23rd deadline draws near. The future of an XRP ETF is still uncertain and depends on regulatory decisions and market conditions.
With XRP showing strength and drawing interest from investors even in turbulent market conditions, there’s a growing chance that regulatory obstacles will be cleared, potentially sparking renewed debates about an XRP Exchange-Traded Fund (ETF).
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2024-04-15 17:36