Institutional investors have rallied around XRP and other altcoins this past week, with nearly $33 million being injected in XRP investment products.
Institutional investors have rallied around XRP this past week, with the assets under management, or AUM, or XRP investment products nearly doubling.
According to CoinShares’ weekly digital asset fund flows report, roughly $33 million flowed into XRP products this week, pushing the sector’s AUM up to $83 million.
The report describes the week as the most bullish for institutional crypto products since early March, with $233 million injected in institutional funds.
Altcoins saw renewed market action overall, with $65 million allocated to Ethereum products, while Binance Coin funds took in $3 million, Bitcoin Cash saw $4 million, Polkadot received $5 million, and Tezos attracted $7 million worth of in flows.