U.Today - A recent report by has revealed impressive gains for XRP, solidifying its position as a frontrunner among crypto investment products. The surge in inflows has propelled XRP to new heights, with a remarkable influx of funds totaling $240,000 in the past week alone. This surge adds to the cumulative value of XRP, which now stands at an impressive $6 million since the start of the year.
However, the positive momentum was not limited to alone, as the entire market experienced a surge of optimism. Digital asset investment products witnessed their largest weekly inflows of the year, with an overwhelming $199 million flooding onto the market. This surge effectively counteracted almost half of the outflows observed over the past two months.
Source: Unquestionably, the primary beneficiary of this resurgent market sentiment has been , as it attracted an impressive $188 million in inflows last week, accounting for a substantial 94% of the total funds received. Conversely, there has been a sustained outflow from Short Bitcoin products, with withdrawals already surpassing a significant 60% of total assets under management in just two months.
Experts at CoinShares attribute this renewed optimism and influx of funds to recent news regarding large funds filing physical collateral exchange-traded funds (ETFs) with the Securities and Exchange Commission (SEC). Notably, among these institutions, , managing an estimated $9 trillion in assets, stands out prominently.