XRP ETF approval expectations soar 91%
CoinShares has published a weekly report covering recent inflows into crypto-based products, including ETFs. This document reveals that while XRP has left many top altcoins behind, Bitcoin remains the leader in this market.
Meanwhile, expectations for an XRP ETF approval have witnessed an impressive increase recently.
Bitcoin smashes XRP, ADA, LTC by inflows
According to the CoinShares report, the majority of financial institutions still prefer to bet their money on the two leaders of the cryptocurrency market – Bitcoin and Ethereum.
Last week, BTC pulled in a staggering $1.114 billion, while Ethereum absorbed much less but still surpassed the rest of top 20 altcoins - $123.8 million. The monthly inflows for BTC total $2,379 billion, while for Ethereum this figure stands at $1.003 billion.
The next one after BTC and ETH by the size of recent investments comes SOL with its $2.8 million of weekly and $3 monthly inflows. XRP is breathing down its neck, having secured $2.7 million last week and $10.5 million over the past month. By year-to-date inflows, XRP has dwindled SOL with $209 million versus $86 million.
Litecoin, Cardano, and Chainlink’s inflows were much smaller than that, totalling $0.2, $0.3, and $0.6 million respectively.
The overall weekly inflows constitute $1.239 billion, proving the growing investor confidence in this type of assets in the market these days.
XRP ETF approval expectations soar 91%
In the meantime, crypto users continue to bet that the SEC will finally give the green light to an XRP ETF this year. Today, the prediction platform Polymarket shows that the probability of this approval this year in the US has increased to 91%, having added one percent in the past four days.
The earlier rise to 90% marked a 19% increase from a previous value. As reported by U.Today, a week ago, the US Securities and Exchange Commission delayed a decision on the XRP ETF filing submitted by a $1.4 trillion Franklin Tempelton behemoth.
Meanwhile, Canada has already allowed its own XRP ETF – it was launched by one of the local fund managers, Purpose Investments. Last week, they waived the management fee for their newly launched crypto product.
This weekend, XRP crashed by almost 10%, hitting a bottom at $1.93. By now, the asset price has recovered 3.37% and XRP is changing hands at $2.
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XRP Crashed by Bitcoin Inflows But These XRP Rivals Fail to Catch Up
Meanwhile, expectations for an XRP ETF approval have witnessed an impressive increase recently.
Bitcoin smashes XRP, ADA, LTC by inflows
According to the CoinShares report, the majority of financial institutions still prefer to bet their money on the two leaders of the cryptocurrency market – Bitcoin and Ethereum.
Last week, BTC pulled in a staggering $1.114 billion, while Ethereum absorbed much less but still surpassed the rest of top 20 altcoins - $123.8 million. The monthly inflows for BTC total $2,379 billion, while for Ethereum this figure stands at $1.003 billion.
The next one after BTC and ETH by the size of recent investments comes SOL with its $2.8 million of weekly and $3 monthly inflows. XRP is breathing down its neck, having secured $2.7 million last week and $10.5 million over the past month. By year-to-date inflows, XRP has dwindled SOL with $209 million versus $86 million.
Litecoin, Cardano, and Chainlink’s inflows were much smaller than that, totalling $0.2, $0.3, and $0.6 million respectively.
The overall weekly inflows constitute $1.239 billion, proving the growing investor confidence in this type of assets in the market these days.
XRP ETF approval expectations soar 91%
In the meantime, crypto users continue to bet that the SEC will finally give the green light to an XRP ETF this year. Today, the prediction platform Polymarket shows that the probability of this approval this year in the US has increased to 91%, having added one percent in the past four days.
The earlier rise to 90% marked a 19% increase from a previous value. As reported by U.Today, a week ago, the US Securities and Exchange Commission delayed a decision on the XRP ETF filing submitted by a $1.4 trillion Franklin Tempelton behemoth.
Meanwhile, Canada has already allowed its own XRP ETF – it was launched by one of the local fund managers, Purpose Investments. Last week, they waived the management fee for their newly launched crypto product.
This weekend, XRP crashed by almost 10%, hitting a bottom at $1.93. By now, the asset price has recovered 3.37% and XRP is changing hands at $2.