Featured image from U.Today, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
XRP has reacted positively since the launch of spot Bitcoin ETFs in the US, both in its price and general market sentiment. At the same time, recent data from CoinShares on the weekly inflow into digital asset funds reveal that the positive sentiment flowed into XRP-based investment products, with institutional investors increasing interest amid speculations of whether a spot XRP ETF might soon hit the market. As a result, weekly net inflows into XRP jumped 244% last week, registering a total of $2.2 million.\u00a0\u00a0 Institutional Investors Look To XRP Amid Crypto ETF Hopes According to various reports, particularly one from on-chain analytics platform Santiment, social media mentions and popularity of XRP increased alongside Ethereum in the days after the SEC gave the green light on spot Bitcoin ETFs.\u00a0 Related Reading: Ethereum Bloodbath Incoming? Celsius\u2019 $125 Million Move Threatens ETH Price This isn’t surprising, as the approval of these ETFs signalled a change in the crypto investment landscape, leaving investors wondering whether we might see the US regulator approving an XRP spot ETF soon. For instance, Valkyrie’s Chief Investment Officer, Steve McClurg, noted that an XRP ETF could also be approved in the near future. According to CoinShares data, the speculation led to the crypto receiving a net inflow of $2.2 million last week, a dramatic 244% jump from $0.9 million recorded in the week before. Notably, this inflow is significantly more than the one recorded in the days following Ripple\u2019s partial victory against the SEC in court. Consequently, this year’s total inflow into XRP-based products now sits behind only Cardano and Ethereum among altcoins.\u00a0\u00a0 Token price begins recovery | Source: XRPUSD on Tradingview.com Inflow Into Asset Funds Post Bitcoin ETF Fail To Break Record \u00a0Digital asset funds recorded an enormous inflow of $1.18 billion last week. While this number represented a spike of 680% from the $151 million registered in the week before, it failed to break the $1.5 billion record set at the launch of the futures-based Bitcoin ETFs in October 2021. On the other hand, trading volume was $17.5 billion last week, the highest weekly volume on record.\u00a0 Related Reading: Bitcoin To Reach $1 Million In Days To Weeks, Crypto Analyst As expected, the majority of last week’s inflow went to Bitcoin-based funds, with $1.14 billion. However, Bitcoin’s price has failed to meet expectations after spot Bitcoin ETFs hit the market. At the time of writing, the crypto is trading at $42,847 and is posting an 8% decline in a 7-day timeframe.\u00a0 Ethereum came in second place with $25.47 million in inflows last week. In terms of geographical location, the United States dominated, seeing $1.24 billion of inflows last week, while Switzerland followed with a $21 million inflow.\u00a0 Featured image from U.Today, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":569795,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[1944,89193,3680,17209,4531,89143,91194,83637,13172,89506,10972,78763],"class_list":["post-569781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-etf","tag-etf-news","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-etf","tag-xrp-investment","tag-xrp-news","tag-xrp-price","tag-xrp-price-performance","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n
Institutional Inflows Into XRP Surges 244% Amid ETF Speculation<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n