A new report from CoinShares says that a growing amount of funds is flowing into investment goods that focus on XRP. Last week, more than $300,000 was put into these kinds of exchange-traded products.
This brings the total amount of funds that have been put into them since the beginning of the year to $18 million, or $3.2 million since the beginning of June.
XRP Investment Products Lead
The market is led by investment goods related to Ripple token, Solana (SOL), Litecoin (LTC), and Chainlink (LINK). In this important way, Ripple token is doing better than the overall altcoin market. Since the beginning of the year, $25 million has been taken out of ETPs for other altcoins.
The steady flow of money into XRP investment products, compared to total outflows, shows that investors in traditional financial markets are optimistic about the cryptocurrency.
Discussions about the possibility of an XRP ETF have been going on all year among coin fans. ETP inflows often happen before or after talks of possible ETF offers. This could make it easier for institutional and individual investors to get into XRP, which could make it more appealing to the market.
Despite problems with regulations and changing market conditions, the fact that more people are interested in Ripple token through ETPs shows that more people want easier ways to trade in the cryptocurrency market.
