U.Today – Bitcoin and XRP Market Update

Bitcoin and XRP are two prominent cryptocurrencies highlighted in CoinShares' latest weekly report on cryptocurrency investment products' inflows and outflows.

According to the report, crypto investment products experienced $2.2 billion in inflows over the past week, marking the highest level since July. Notably, these inflows are concentrated in the U.S., while other regions are experiencing outflows. CoinShares analyst James Butterfill suggests that the upcoming U.S. political events in November are influencing these trends.

Bitcoin remains the dominant cryptocurrency, capturing 97% of the recent inflows. Additionally, ETFs focused on XRP have also been witnessing inflows. Although the amounts are smaller, the steady increase over recent weeks indicates consistent interest in XRP.

To date, $26 million has flowed into XRP ETPs since the start of the year, prompting major players in the ETP space to consider launching an XRP ETF. Bitwise has even sought regulatory approval for such a fund, demonstrating growing demand against limited supply.

The future of the XRP ETF remains uncertain, but with current trends, it may soon join Bitcoin and Ethereum in the investment landscape.