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.