Stellar, Ripple and Solana-Based Investment Funds See AUM Spike in July

📆 26/07/2023 23:47:00
📰 CoinDesk

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Assets under management for $XRP, $SOL and $XLM-based funds have risen sharply according to data from CCdata_io. LedesmaLyllah writes

Most of the AUM boost came on July 14, one day aftersharp price gains

across the crypto sector, particularly for XRP itself as well as other altcoins, XLM and SOL among them. AUM for XLM-based products increased by 62.7% to $17.3 million. Among those funds is Grayscale's Stellar Lumens Trust , whose premium to net asset value surged to 330%, said CCData. XRP-based products recorded a 33.2% increase in AUM in July to $65.7 million, and SOL-based products saw a 55.7% increase in AUM to $87.8 million, said the report.

“Sentiment surrounding XLM has been positive over the past month, bolstered by the advancement of its partnership with USDC's Circle and strategic collaborations with entities such as MoneyGram,” said Hosam Mahmoud, research analyst at CCData, in a note to CoinDesk.

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