Finst

Ripple tops Bitcoin

According to a CoinShares investment firm report, last week about $9.7 million flowed out of their digital asset investment products.

By Mike Hesp
• 1 min read
Ripple tops Bitcoin

According to a report from investment firm CoinShares, last week about $9.7 million flowed out of their digital asset investment products. In the same period, Ripple (XRP) rose by as much as $3 million — investors staying the course.

"The growing clarity of the SEC case is viewed as favorable for XRP by the investing community," CoinShares explains. The "inflows to XRP were last week worth about nine percent of assets under management," it continues.

Bitcoin, on the other hand, is faring poorly. It marked the third straight week of outflows, underscoring ongoing negative sentiment, the report says. Investors instead piled $1.2 million into Bitcoin short products, betting the price of the cryptocurrency would fall.

Earlier it was suggested that a settlement in the lawsuit would mean a defeat for Web3 for Web3.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.