Since last week institutional investors have ‘chased’ XRP, seeing record assets (AUM), or XRP investment products almost double.
Based on a weekly report from CoinShare, a total of $ 33 million of funds were put into XRP products, bringing the AUM sector up to $ 83 million this week.
Undoubtedly the week has been bullish for institutional crypto products since early March with record inflows of institutional funds reaching $ 233.
Other Altcoins also saw fund inflows with $ 65 million accumulated in Ethereum products, Binance Coin receiving $ 3 million, Bitcoin Cash with $ 4 million, Polkadot ($ 5 million) and Tezos ($ 7 million).
Bitcoin products represent almost 78% of institutional AUM with a value of $ 50 billion while Ether is with $ 10.7 billion or 16.8% of institutional crypto products. Meanwhile, other crypto assets saw less than 1% of funds locked up with record-breaking ones each: Binance Coin ($ 571 million), Polkadot ($ 45 million) and Bitcoin Cash ($ 16 million).
Institutional volume also saw a week -on -week jump of 59% to $ 4.8 billion. The highest price record of all time has brought the AUM for crypto investment products past $ 64 billion.
Grayscale represented 77% of institutional crypto AUM with nearly $ 50 billion, followed by CoinShare with $ 5.7 billion or nearly 9% of the entire sector and 3iQ recorded a value of $ 1.9 billion or 3%.
North American investors are expecting a surge in cryptocurrency institutional products as Canadian regulators approved three Ether Exchange-Traded Funds or ETFs last week following the successful launch of several Bitcoin ETFs in Canada.
