Institutional investors flock to XRP products

Institutional investors showed great interest in XRP last week. The managed assets of XRP investment products have almost doubled.

According to CoinShares’ Weekly Digital Asset Funds Flow Report, approximately $ 33 million was transferred to XRP products this week, with the total value of managed assets rising to $ 83 million.

In the report, it was stated that last week was the best week for institutional crypto products since early March and a total of $ 233 million was transferred to institutional funds.

In general, a new market activity has been seen in altcoins. While $ 65 million was transferred to Ethereum products, $ 3 million was transferred to Binance Coin products, $ 4 million to Bitcoin Cash, $ 5 million to Polkadot, and $ 7 million to Tezos. About $ 6 million was invested in multi-asset products.

Bitcoin products represent $ 50 billion of assets managed by organizations, or almost 78 percent. Ether products take the second place with $ 10.7 billion, or 16.8 percent. All other crypto assets represent less than 1 percent of the capital locked in the industry.

On the other hand, corporate transaction volume increased by 59 percent last week, reaching $ 4.8 billion.

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