Ripple Institutional Investors Slow Down as XRP Sees Only $240K in Weekly Inflows

CryptoPotato

2023-06-26 13:07:10

One of the leading crypto-oriented asset managers catering predominantly to institutional clients, CoinShares, has reported a total of $199 million of weekly inflows.

This is the largest the number has been since July 2022, correcting 50% of the previous 9 consecutive weeks of outflows.
The report outlines that Bitcoin has been the one that benefitted the most, with a whopping $187 million of inflows throughout the week.
This represents a whopping 94% of the company’s total flows.
CoinShares also reported that:

This turn in sentiment didn’t trickle down to altcoins with only very minor inflows into XRP and Solana totalling $0.24M and $0.17M respectively.

It’s worth noting that Ripple is in the middle of a massive legal fight against the SEC over allegedly conducting an unregistered securities offering, and its likely that many institutional investors are waiting for the outcome of the case.

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