Record investment inflows: Last week, digital asset investment products, including Bitcoin and Ethereum ETF funds, recorded an influx of 3.2 billion USD, according to CoinShares. Since the beginning of 2024, total capital inflow has reached 44.5 billion USD, four times that of any previous year. This is also the 10th consecutive week that crypto investment products have recorded positive inflows.
Bitcoin dominates capital flows: $BTC leads by attracting 38.5 billion USD, equivalent to 87% of the total capital flow this year. This event was driven by the launch of the Bitcoin spot ETF and Donald Trump's victory in the US elections, along with a promise to support the crypto industry.
Ethereum and XRP stand out: $ETH also witnessed a record capital inflow of 1 billion USD last week, bringing the total capital for 2024 to 4.4 billion USD. Meanwhile, $XRP - the coin founded by Ripple Labs - has nearly quadrupled in value since Election Day, from $0.50 to $2.46. XRP investment products attracted 145 million USD last week, bringing the total capital for 2024 to 421 million USD.
Expectations for XRP ETF: Interest in XRP has surged thanks to expectations of the launch of a dedicated XRP ETF in the US, as managers like WisdomTree and 21Shares are actively filing applications. Currently, capital inflow into XRP products primarily comes from international markets, with 3.5 billion USD from outside the US, 159 million USD from Switzerland, and 116 million USD from Germany.
Ripple expands with stablecoin RLUSD: Ripple is set to launch the RLUSD stablecoin on Tuesday, not only on the XRP Ledger network but also integrated with Ethereum. This allows RLUSD to enter the 200 billion USD stablecoin market, opening up new potential for XRP and Ripple's ecosystem.
Conclusion: With record investment inflows and expectations for new ETF products, XRP is asserting its position in the global digital asset landscape. The development of XRP and Ethereum may mark a new growth phase for the crypto market, especially as industry-friendly policies are implemented under the new administration.