Crypto investors cool on Bitcoin funds, turning to Ether and XRP

Flows by the top digital asset investment products. Source: CoinShares.

The apparent change of heart follows Ripple’s partial victory against the United States Securities and Exchange Commission on July 13, where the court ruled thatThe news spiked XRP’s price up 76% to $0.83 before cooling off to $0.69 at the time of writing.Bitcoin however still remains the dominant digital asset investment product, with $558 million in inflows so far in 2023 and a total of $25.0 billion in assets under management — amounting to 67.4% of the total market share.

with the SEC since mid-June, including BlackRock, ARK Invest, Fidelity, Galaxy Digital, VanEck, Valkyrie Investments, NYDIG, SkyBridge and WisdomTree.

CoinSharesCo Butterfill noted that Ethereum investment products were the best performer last week with inflows of $6.6 million, while XRP funds recorded an inflow of $2.6 million.

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