XRP News Today: Institutional Investors Pour $1.24 Billion into Crypto Amid Geopolitical Tensions

Institutional investors have continued to purchase significant amounts of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP despite the recent panic selloff triggered by geopolitical tensions in the Middle East. This buying spree has resulted in a total of $1.24 billion in weekly inflows into crypto asset investment products, signaling a bullish sentiment among investors.

According to a report released on June 23, the total inflows into crypto funds have reached a new high of $15.1 billion year-to-date (YTD), marking the 10th consecutive week of inflows. This trend indicates that institutional investors are increasingly viewing cryptocurrencies as a viable investment option, even in the face of global uncertainties.

Bitcoin, the largest cryptocurrency by market capitalization, saw inflows of $1.1 billion, suggesting that investors are taking advantage of the recent sell-offs to accumulate more BTC. This buying activity comes despite the Israel-Iran conflict, which had previously caused two consecutive weeks of sell-offs. Additionally, minor outflows of $1.4 million from short-Bitcoin products further support the bullish sentiment surrounding BTC.

Ethereum (ETH) has maintained its positive momentum for the 9th consecutive week, with inflows of $124 million. This marks the longest run of inflows since mid-2021, indicating strong institutional demand for the second-largest cryptocurrency by market capitalization.

Institutional demand for Solana (SOL) and XRP has also continued, with inflows of $2.78 million and $2.69 million, respectively. The buying activity in these cryptocurrencies comes amid positive developments from the US Securities and Exchange Commission (SEC), which has updated the approval odds for spot Solana and XRP ETFs to 95%.

In the United States, institutional investors have been largely bullish, with spot Bitcoin and Ethereum ETFs, along with other funds, seeing a net inflow of $1.25 billion. This trend is supported by experts such as Arthur Hayes, Mike Novogratz, and Eric Balchunas, who remain optimistic about the future of cryptocurrencies despite the geopolitical tensions.