Institutional Investors Flock to XRP, Altcoin's $105M Inflows

Institutional investors have shown a growing interest in XRP, the native cryptocurrency of Ripple, as it has become the second most favored altcoin year-to-date, with a total of $105 million in product inflows, according to a report by CoinShares.

Despite volatile market conditions, institutional crypto investment vehicles attracted nearly $530 million last week, with XRP inflows totaling $14.7 million. This significant interest in XRP has positioned it as the second most popular altcoin of the year, trailing only Ethereum (ETH) with $177 million in inflows.

The US led the inflows with $474 million, while Europe contributed $78 million. Canada, however, experienced $43 million in outflows, possibly due to trade tariff concerns. Bitcoin (BTC) remained the dominant cryptocurrency, attracting $486 million in inflows.

CoinShares' Digital Asset Fund Flows report highlighted the volatile investor sentiment during the week, with over $1 billion in inflows following an initial sell-off triggered by broader market concerns. Despite the recent sell-off, the crypto market has seen significant price gains and inflows of $44 billion in 2024 and $5.3 billion year-to-date.