Trending Pairs

Meme Explorer

Gainers & Losers

Community Votes

Top Traders

Exchanges

Centralized Exchanges

Spot

Derivatives

Decentralized Exchanges

Products

Campaigns

Calendars

Learn

CoinMarketCap: Read what our contributors have to say. This content is provided by the community. DYOR!

XRP Sees Record-Breaking $95 Million in Fund Flows as XRP ETF Hype Surges

Market Musing-g

XRP Sees Record-Breaking $95 Million in Fund Flows as XRP ETF Hype Surges

SEC

ETF

XRP

By U_Today

Created 3 months ago, last updated 3 months ago

•

2 mins read

XRP Sees Record-Breaking $95 Million in Fund Flows as XRP ETF Hype Surges

Cover image via U.Today

In a week full of ups and downs for digital assets,XRP stole the spotlight with a whopping $95 million in inflows, marking the highest weekly total ever recorded byCoinShares for investment products based on this popular cryptocurrency. This 621% week-over-week increase is a great example of how the token is attracting more and more attention, especially as financial market participants are talking more and more about U.S.-based ETFs on XRP.

It is worth noting that digital asset investment products attracted a total of $270 million in inflows last week, which is quite remarkable in the broader context of the crypto market.

But it was the performance of XRP that really caught people's attention. It is now the third largest digital asset by market capitalization, valued at over $135 billion.XRP's price is up to $2.50, which is a nearly 400% increase since last month, and that is fueling even more interest in the asset.

Bitcoin, despite its dominant status, had a contrasting week with $457 million in outflows, which experts say was due to profit taking after reaching the symbolic $100,000 price level.

Ethereum also made headlines by securing $634 million in inflows, reaching a year-to-date record of $2.2 billion and surpassing its 2021 peak. With all this in mind, it is even more impressive how much XRP is attracting investment.

As mentioned above, much of this growth can be attributed to what's happening in the ETF space. With companies like WisdomTree, 21Shares and Canary Capital filing with the SEC for an XRP ETF, it looks like it is getting closer to becoming a reality.

WisdomTree's filing, with the Bank of New York Mellon as the trust's administrator, is particularly noteworthy. There is also excitement around combination crypto ETFs from Bitwise and other firms that include XRP with other major coins.

U_Today

Other articles published on Dec 2, 2024

Teresa Goody Guillén Considered for SEC Chair Amid Trump’s Pro-Crypto Push

2.1 Million XRP Tokens Were Now Executed On Binance

Coinbase Halts USDC Rewards in Europe to Comply with New MiCA Regulations

XRP IN THE HEADLINES! WHICH ALTCOIN OR MEMECOIN WILL BE THE NEW XRP!

Indian Gov. Supports Pi Coin: Fact Checking by CryptoTimes

ThinkMarkets Receives Two Prestigious Industry Awards

Join our free newsletter for daily crypto updates!