This surge has propelled year-to-date inflows to an impressive $41 billion, with assets under management soaring to $165 billion.
Interestingly, these figures suggest that the inflows have significantly surpassed the previous benchmarks set in 2021, which saw $10.6 billion in total inflows and $83 billion in AuM.“Bitcoin saw inflows of US$2.5bn bringing YTD inflows to US$36.5bn. Short bitcoin has seen tepid inflows of US$6.2m, historically we have seen much higher inflows after sharp price rises suggesting investors remain cautious on betting against the recent strong price momentum.
That being said, XRP’s price experienced a significant surge, climbing over 11% in a week to reach a near $2.65 high before facing market-wide corrections. Over the past month, the cryptocurrency demonstrated exponential growth, skyrocketing by 337% from approximately $0.55 to a peak at $2.9. At press time, XRP was trading at $2.16, reflecting a resistance as its price dropped by 9.75% in the past 24 hours, as perinvestment products continued to attract significant attention, securing $5.2 million in inflows, contributing to a quarter of the year’s total inflows for these assets.Interestingly, short Bitcoin products saw inflows of $6.2 million, reflecting diverse market sentiment.Ishika is a graduate of Political Science from the University of Delhi.
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