Bitcoin

Green

Billion

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In the face of a challenging week for digital asset investment products, XRP emerges as the sole beacon of positivity, showcasing resilience in the volatile market. Coinshares' latest weekly&nbsp;<a href="https://blog.coinshares.com/volume-166-digital-asset-fund-flows-weekly-report-3c59276b9833" rel="noopener noreferrer nofollow">report</a> reveals a setback with minor outflows totaling $21 million across digital assets, particularly impacting higher-cost issuers in the U.S.&nbsp;
Notably, since the launch of spot-based ETFs on Jan. 11, 2024, incumbent players suffered a significant blow with $2.9 billion in outflows.
However, amid the gloom, the report presents a silver lining. The data illustrates a noteworthy influx of over half a million dollars into investment products, particularly those focused on the popular cryptocurrency&nbsp;<a href="https://u.today/xrp-in-epic-correction-mode-watch-these-3-catalysts-for-growth" rel="noopener noreferrer nofollow">XRP</a>. The digital asset stands as the only alternative to&nbsp;<a href="https://u.today/btc-to-120000-top-trader-henrik-zeberg-shares-epic-new-bitcoin-price-prediction" rel="noopener noreferrer nofollow">Bitcoin</a> that witnessed a positive capital flow, recording an impressive $4 million since the beginning of the year. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="87376ed5-1218-4235-9a5a-52c766e3e331" src="https://u.today/sites/default/files/inline-images/xrpripple.png">Source: <a href="https://blog.coinshares.com/volume-166-digital-asset-fund-flows-weekly-report-3c59276b9833" rel="noopener noreferrer nofollow">CoinShares</a>
<h2 id="the-hit">The hit</h2>
The market's major hit came from&nbsp;<a href="https://u.today/grayscale-dumps-214-billion-in-bitcoin-btc-post-etf-approval-details" rel="noopener noreferrer nofollow">Grayscale</a>'s decision to sell its Bitcoin holdings from the GBTC trust, contributing to the overall setback. Even with the introduction of new ETFs, which garnered $4.13 billion in inflows since their launch, they were unable to compensate for the losses suffered by higher-cost incumbent ETPs.&nbsp;
Investors leveraged the recent price weakness to capitalize on short-Bitcoin investment products, with inflows there and minor outflows of $25 million for Bitcoin itself.
As the digital asset landscape navigates through challenges, XRP's resilience and positive capital flow underscore its appeal among investors.

XRP Shines Green Amid $2.9 Billion Market Setback

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