CoinShares reported on Monday that inflows to XRP digital asset products reached $95 million in the past week, accounting for 67% of total inflows to such products this year, driving investors' allocations to XRP over $141 million year-to-date.
CoinShares research director James Butterfill stated that traders are likely betting on the approval of an XRP ETF, with Ripple CEO Brad Garlinghouse calling this trend 'inevitable' in October. Butterfill wrote: 'We believe that (the record weekly inflows into XRP) is due to expectations surrounding the potential launch of an XRP ETF in the U.S.'
Although XRP operates independently of Ripple's payment and settlement products, Sidney Powell, co-founder and CEO of Maple Finance, believes that the cryptocurrency benefits from Ripple's 'very strong brand recognition' in the crypto space: 'I think it has a lot of legacy value because it has been around for a long time. It is obviously a very mature cryptocurrency, and Ripple itself is also a very mature company.' (Decrypt)

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