$XRP Exchange-traded funds (ETFs) continue to attract new capital, outperforming both Bitcoin and Ethereum for the fifth consecutive week.
Despite the overwhelming bearish mood pervading the broader crypto market, institutional demand remains strong. $XRP It is growing at a slow and steady pace.
$XRPcontinued net inflow of
$XRP Weekly net inflows into ETFs totaled $10.68 million (as of the week ending June 12).
This brings the cumulative net inflow to a staggering $1.44 billion.
Total transaction volume during this period was $61.22 million, and total net assets remained at $978.86 million.
This solid performance follows the prior week to June 5, when weekly net inflows were a more modest $2.62 million.
The week of May 29th saw positive flow of $15.2 million. Prior to this, the week ending May 22 saw an inflow of $22.04 million.
The local peak for this observation period occurred during the week of May 15th. That week saw an impressive net inflow of $60.5 million.
Bitcoin suffers catastrophic losses
According to recent weekly ETF net flow data, $XRP stands alone as Green’s only major digital asset, recording $11 million in positive flows.
Conversely, Bitcoin ETFs have experienced disastrous performance. The flagship cryptocurrency suffered a devastating net outflow of $319 million weekly.
Prominent funds, particularly BlackRock’s iShares Bitcoin Trust (IBIT), have been hit particularly hard.
Ethereum and Solana were also not spared from this broader market hemorrhage. The Ethereum ETF recorded negative net flows of $15 million this week, while the Solana ETF fell $4 million.
another victory $XRP
Meanwhile, the U.S. Securities and Exchange Commission (SEC) just approved a significant rule change that will allow T. Rowe Price’s new active crypto ETF to be listed and traded on the NYSE Arca.
Ripple-linked tokens have been chosen as assets for actively managed portfolios alongside Bitcoin and Ethereum. This is yet another victory for the institutional adoption story.
