Main navigation

XRP Funds Seeing Millions of Dollars Worth of Inflows. Here’s Why

Mon, 01/09/2023 - 20:18
article image
Alex Dovbnya
XRP funds have managed to buck the bearish trend by recording millions of dollars worth of inflows
XRP Funds Seeing Millions of Dollars Worth of Inflows. Here’s Why
Cover image via
Read U.TODAY on
Google News

According to a recent report published by CoinShares, XRP funds recorded a total of $3 million worth of inflows. 

It is worth noting that XRP-linked investment products were an outlier. Overall, cryptocurrency funds saw a total of $9.7 million worth of outflows. 

The aforementioned figure highlights the bearish sentiment within the cryptocurrency industry, which is still reeling from the implosion of the FTX exchange. The recent controversy surrounding Barry Silbert’s crypto empire Digital Currency Group is also contributing to the growing bearishness. 

Bitcoin saw outflows totaling $6.5 million, according to CoinShares. 

It is worth noting that funds that are based in Germany and Switzerland saw minor inflows, which suggests that European cryptocurrency investors are a tad more bullish. Meanwhile, funds in the U.S. and Brazil had to deal with substantial outflows.  

cardCoinShares suggests that recent developments in Ripple’s legal battle with the U.S. Securities and Exchange Commission might be the reason why XRP funds managed to buck the trend last week. 

The high-stakes legal saga is finally expected to reach its resolution in the first half of 2023.   

The SEC's potential win will likely create a ripple effect beyond just Ripple—many companies operating in the crypto space may be forced to reassess their own structures and approach to remain compliant with existing regulations. 

article image
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