Gemini

<a href="https://bitcoinworld.co.in/xrp-investment-products-surge-127-in-assets-under-management-as-demand-increases/" title="XRP Investment Products Surge 127% in Assets Under Management as Demand Increases" rel="noopener noreferrer nofollow"></a> 
Investment products centered around XRP, the native token of the XRP Ledger, have witnessed a remarkable surge in assets under management (AUM), with a staggering 127% growth this year. This trend is highlighted by the sixteenth consecutive week of inflows into these products, amounting to $500,000. Notably, these inflows constitute 12% of the total AUM for XRP-focused investment products. 
This resurgence in interest can be attributed to a pivotal legal ruling earlier this year, which distinguished between sales of XRP to institutional investors and those on exchanges. Judge Analisa Torres’ decision in the U.S. Securities and Exchange Commission (SEC) case against XRP emphasized that the token itself is not inherently a security. This ruling prompted major cryptocurrency exchanges like Coinbase, Kraken, and Gemini to relist XRP, significantly enhancing its liquidity and boosting investor sentiment. 
However, recent developments reveal that the SEC is intending to file an “interlocutory appeal” against the court’s ruling, primarily to clarify the application of the Howey test—a benchmark for defining securities—on Ripple’s programmatic XRP sales. This underscores the ongoing regulatory uncertainty in the cryptocurrency landscape. 
Moreover, blockchain data indicates a remarkable increase in the number of daily transactions on the XRP Ledger. Since the beginning of August, the ledger has recorded over 1.2 million transactions per day, surpassing the daily transaction count on Ethereum, the second most popular network in the cryptocurrency space, which has seen 1.09 million transactions daily. 
In the broader context, the cryptocurrency market has witnessed significant fluctuations, leading to a drop of nearly $10 billion in XRP’s market capitalization from its peak this year. 
CoinShares’ latest Digital Asset Fund Flows Weekly report also highlights a broader trend in the market. Last week, the digital asset investment products observed $29 million in inflows, marking the end of a three-week period of outflows. Bitcoin-focused products led with $27 million in inflows, while Ethereum-focused products garnered $2.5 million. 
As regulatory dynamics continue to evolve and the crypto market undergoes rapid shifts, the trajectory of investment products tied to specific cryptocurrencies remains subject to both market sentiment and regulatory developments. Investors and industry observers will keenly monitor these trends as the cryptocurrency landscape evolves further. 
&nbsp; 
The post <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in/xrp-investment-products-surge-127-in-assets-under-management-as-demand-increases/">XRP Investment Products Surge 127% in Assets Under Management as Demand Increases</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

XRP Investment Products Surge 127% in Assets Under Management as Demand Increases

ItsBitcoinWorld

Other articles published on Aug 15, 2023

Bitcoin Report from Coinbase! "Everyone Must Buy BTC!"

Jacobi Asset Management Launches First Spot Bitcoin ETF in Europe

FTX 2.0: Relaunch Faces Serious Concerns from Kraken Co-Founder

‘Extreme Accountability’: Meet Charles Hoskinson’s AMA Site, HockSaid

Delving into the Wonders of America’s National Parks

Ex-FTX exec Salame won’t testify in alleged illegal campaign donation case

Join our free newsletter for daily crypto updates!