According to the most recent data from CoinShares, XRP has once again taken the top spot among investment products that are specifically geared towards cryptocurrencies and has seen a large increase in capital inflows. XRP has had one of its best weeks this year, with a value of $1.1 million for the week.
Consequently, $6 million worth of positive year-to-date inflows have been accumulated by XRP-focused investment products. The overall situation of the market, which has seen outflows equal to a stunning $226 million, further emphasises the relevance of this data.
The mounting anticipation surrounding the impending decision in the SEC lawsuit against Ripple is primarily responsible for these investor behaviours from the more traditional financial industry. Similar patterns were seen in early March and late April before, highlighting the importance of investor mood.
The price of XRP, which has been on the rise over the past week, is another indicator of this mood. Notably, Mark Fagel, a former attorney and SEC veteran, predicts a decision within days, according to U.Today. This shows that not only investors are anticipating a speedy conclusion to the matter.
While XRP excels in terms of capital inflows, investment products in digital assets had modest withdrawals of $5.1 million. After learning that BlackRock had submitted an application for a Bitcoin Spot Trust, a moderate inflow was seen towards the conclusion of the week. These inflows, however, weren’t enough to make up for the previous outflows, which led to the ninth straight week of outflows, which now total an unsettling $423 million.
