Bitcoin

Million

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
In a remarkable week for the crypto market, digital asset investment products surged, with a staggering $125 million influx. The main magnet of investors' attention, without a doubt, was Bitcoin (BTC), capturing an impressive inflow of $123 million. However, it was <a href="https://u.today/ripple-unlocks-one-billion-xrp-from-escrow-heres-impact-on-price">XRP</a> that stood out as the star performer, receiving over $400,000 in inflows, continuing its positive trajectory.
<a href="https://u.today/pro-ripple-lawyer-says-sec-created-uncertainty-with-dash-xrp-security-status">card</a>
According to the recent weekly report from <a href="https://blog.coinshares.com/volume-138-digital-asset-fund-flows-weekly-report-e3fcb270729">CoinShares</a>, XRP exchange-traded products experienced remarkable performance, with $2.8 million flowing in during June alone, outperforming any other altcoin. Since the beginning of 2023, XRP products have amassed an impressive $6 million in fund flows.
<img alt="" data-entity-type="file" data-entity-uuid="83659590-1c3f-4377-8a80-6cae647cf9c3" src="https://u.today/sites/default/files/inline-images/cscs.png">Source: <a href="https://blog.coinshares.com/volume-138-digital-asset-fund-flows-weekly-report-e3fcb270729">CoinShares</a>
<h2 id="why-would-traditional-investors-bet-on-xrp">Why would traditional investors bet on XRP?</h2>
This special attitude toward XRP may be attributed to two primary factors. The first is the close association between the coin and <a href="https://u.today/pro-ripple-lawyer-says-sec-created-uncertainty-with-dash-xrp-security-status">Ripple</a>, where the latter actively employs it in business operations. With Ripple's constant expansion and partnerships across traditional industries, many investors see XRP as an excellent vehicle to gain exposure to Ripple's growth. The belief that Ripple's actions are instrumental in driving XRP's price growth further bolsters this sentiment.
<a href="https://u.today/ripple-unlocks-one-billion-xrp-from-escrow-heres-impact-on-price">card</a>
The second reason is the ongoing legal proceedings between Ripple and <a href="https://u.today/xrp-rumor-mill-is-gensler-leaving-sec-issues-new-update">the SEC</a>, now going into its third year. Despite the prolonged uncertainty, various experts estimate that a final resolution may be on the horizon. In response, investors are seizing the opportunity to front-run the court decision, leading to increased interest and investment in XRP.
While <a href="https://u.today/bitcoin-sees-significant-upward-trend-in-accumulation">Bitcoin</a> remains the dominant force, XRP's consistent positive inflows showcase its resilience and appeal to investors seeking diverse opportunities within the crypto landscape.

XRP Absorbs Investors' Cash as Crypto Fund Flows Skyrocket with $124 Million Surge

Table of Contents

U_Today

Other articles published on Jul 3, 2023

Shido Tax Cooldown continues!

Bitcoin Mining: A Comprehensive Understanding

Singapore’s Crypto Firms Have to Keep Customer Funds in a Statutory Trust: MAS

Unleashing the Potential of Virtual Product Prototyping and Testing in EXGOLAND

Eid Adha 1445 H

Racy Beeple SBF artwork becomes his first to enter museum permanent collection

Join our free newsletter for daily crypto updates!