Leading digital asset manager CoinSharesshared the comments of institutional investors regarding the ongoing lawsuit between the SEC and Ripple. The firm underlined that institutional investors continue to invest in XRP and in a way that shows they trust the company.
“XRP changed that trend with $3 million inflows representing a total of 9% of assets under management.”
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The SEC claims that XRP was an unregistered security when it was launched and remains a security to this day. But CoinShares suggests that investors think the SEC’s arguments will ultimately fail in court.
“We believe that increased clarity in the case with the SEC is seen as increasingly favorable for XRP by the investment community.”
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Overall, digital asset institutional investment products have experienced exits over the past week, continuing a trend that began in late 2022.
“Digital asset investment products saw a total outflow of $9.7 million, underlining the moderately negative mood that has persisted for the past three weeks.”
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Bitcoin, on the other hand, was the crypto currency that received the most share from these exits.
“Bitcoin has seen minor outflows totaling $6.5M for the third week in a row, indicating that sentiment in early 2023 continues to be negative.”
Koinfinans.com As we reported, Ethereum (ETH) investment products lost for the eighth week in a row and experienced an outflow of $ 3.1 million. Multi-asset digital investment products that invest in multiple cryptos saw $4.5 million outflows last week. Institutional investment vehicles that focus on altcoins, Binance Coin (BNB) and Litecoin (LTC), saw $ 0.2 million in inflows, respectively.