CoinShares Analysts: Institutions Put $420K in XRP Funds in 1 Week
According to a recent report by CoinShares, institutions have been increasingly investing in XRP funds over the past 25 weeks, with the volume of investment reaching $660,000 in seven days at the end of September.
This trend has continued, as last week alone saw an influx of $420,000 into crypto funds tracking the performance of XRP.
In total, crypto funds attracted $15 million in one week, but despite the steady investments since September, trading volumes remain 27% below the average for 2023. While Bitcoin funds received around $16 million in investments, funds focused on Tezos (XTZ), Litecoin (LTC), and Chainlink (LINK) saw withdrawals of $0.25 million, $0.28 million, and $0.31 million respectively.
In terms of annual capital inflow, institutional investors have contributed approximately $260 million to crypto funds. However, Ethereum funds faced a net outflow of $7.5 million.
