With the assets under Management (AUM) or XRP investments products nearly doubling, institutional investors have rallied around XRP in the past week.
Roughly $33 million flowed into XRP products this week, pushing the sector’s AUM up to $83 million, according to report by Coinshare’s digital asset fund flow.
Since early March, this week has been the most bullish week for Institutional Crypto $233 million injected in Institutional funds, according to Coinshare’s report.;
Roughly $6 million was invested into multi-asset products, with $65 million allocated to Ethereum products, while Binance Coin funds took in $3 million, Altcoins saw renewed market action overall, Tezos attracted $7 million worth of in flows, Polkadot received $5 million and Bitcoin Cash saw $4 million
Bitcoin products represent nearly 78% of institutional AUM with $50 billion, followed by Ether with $10.7 billion or 16.8% crypto product exposure. All other crypto assets represent less than 1% of capital locked in the sector, with Binance Coin representing $571 million, Polkadot representing $45 million, and Bitcoin Cash representing $16 million.
In addition to large inflows, institutional trade volume surged, gaining 59% week-over-week to tag $4.8 billion. All-time price highs also pushed the AUM of crypto investment products into record highs above $64 billion.
Grayscale represents 77% of institutional crypto AUM with nearly $50 billion, followed by CoinShares with $5.7 billion or almost 9% of the sector’s total, and 3iQ with $1.9 billion or roughly 3%.