Institutional Inflows Into XRP Surges 244% Amid ETF Speculation
Summary
XRP's price and market sentiment improved after the launch of spot Bitcoin ETFs in the US. Institutional investors showed increased interest in XRP-based investment products, leading to a 244% jump in weekly net inflows, totaling $2.2 million. Social media mentions and popularity of XRP surged after the SEC approved spot Bitcoin ETFs, sparking speculation about a potential XRP ETF approval. Despite the significant inflow, it falls behind Cardano and Ethereum among altcoins. Overall, digital asset funds saw a substantial inflow of $1.18 billion last week, with the majority going to Bitcoin-based funds. The US dominated in terms of geographical location for inflows, with $1.24 billion.
