Record Under Management (AUM) XRP Increases Almost 2x! - Kakiforex.com - Financial Market Media No. 1 in the World Record Under Management (AUM) XRP Increases Almost 2x! Record Under Management (AUM) XRP Increases Almost 2x!
InstaForex

April 21, 2021

Record Under Management (AUM) XRP Increases Almost 2x!

 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.