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XRP Funds Keep Seeing Inflows as Crypto Market Ends Bearish Streak

Mon, 01/23/2023 - 19:09
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Alex Dovbnya
Last week saw a continued upward trend for digital asset investment products as $37m in inflows were reported
XRP Funds Keep Seeing Inflows as Crypto Market Ends Bearish Streak
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Cryptocurrency investment products recorded a surge in activity over the past week, with total inflows of $37 million according to a recent report by CoinShares.  

However, it should be noted that a whopping 68% percent of these were directed toward short investment products, meaning that the market sentiment remains bearish.  

Altcoins saw a surge in activity, with Ethereum, Polkadot, Cardano, XRP, and Avalanche experiencing inflows totaling $4.2 million, $1.0 million, $0.6 million, $0.6 million, and $0.5 million, respectively.

Additionally, blockchain equities too observed an influx of investors' money, reaching amounts worth an impressive sum total of around 7 million U.S dollars for the past week alone.

As for Bitcoin itself, it had net inflows totaling $5.7 million last week followed by short Bitcoin investment products edging ahead with net inflows valued at $25.5 million — the highest weekly inflow since July 2022 when recorded $51 million worth of fresh funds. 

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Sentiment appears to be split across different regions. In Europe, Germany and Switzerland attracted the most significant inflows at a total of $14m and $10m respectively. Outflows from European short investment products suggest that sentiment is positive. In stark contrast to this, Hong Kong experienced outflows in long investment products ($11m). 

The price of Bitcoin recently saw an impressive recovery, surging above the $23,000 level. Hence, many investors might view this as a shorting opportunity since they believe that the rally might not be sustainable.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at