In an unexpected turn of events, inflows into XRP-focused investment products have abruptly stopped, recording zero in the most recent weekly report released by CoinShares. This abrupt halt follows a stellar run that saw $2.7 million pour into these XRP-focused products over the preceding four weeks since the start of August.
Since the launch of XRP-focused exchange-traded products (ETPs), the cumulative influx has exceeded an astounding $13 million, solidifying its position as one of the most popular choices among crypto-oriented investment products. Among traditional traders, only Bitcoin (BTC), Quick Bitcoin, and Solana (SOL) have a better reputation than XRP.
However, other assets are also being swept up in the decreased inflows, not only XRP. According to James Butterfill at CoinShares, the entire market for investing in digital assets has experienced a cooling trend, with only a few very insignificant outflows totaling $11.2 million.
Points of sentiment
Despite a brief decline in inflows, the year-to-date numbers for digital asset funding products remain positive, showing a $165 million internet inflow. Significant changes in investor mood have been observed this year, which have been mostly affected by regulatory developments in the world of digital assets. This volatility was best exemplified last week when high expectations for a spot ETF approval in the US were dashed by the announcement of a delay for all other spot ETF applications.
Curiously, buying and selling volumes surged to new heights, reaching $2.8 billion for the week, representing a startling 90% increase above the year-to-date average, while inflows remained subdued.
