According to the latest reports, it has been revealed the fact that XRP, ADA, and MATIC see massive institutional inflows. Check out the latest reports about this.
ADA,, XRP and MATIC see massive institutional inflows
According to CoinShares, a digital assets manager, institutional investors are considering alternative cryptocurrencies as the crypto market continues to see outflows for the ninth consecutive week.
In its most recent report on weekly digital asset fund flows, CoinShares reveals that institutional investors divested $5.1 million in crypto assets last week, which is considerably lower than the previous eight weeks.
“Digital asset investment products saw minor outflows totaling US$5.1m. The end of the week saw minor inflows following the news that one of the world’s largest asset managers has applied for a Bitcoin ETP (exchange-traded product) in the US, although these inflows were not enough to offset outflows seen earlier in the week.”
The notes continued and said the following:
“Consequently, a 9th week of outflows was recorded, with this run of outflows now totaling US$423m.”
XRP in the news
It’s been just revealed the fact that an important pro-XRP lawyer John Deaton said recently that the big banks would attempt to swoop in and acquire vast pieces of the crypto market. This should happen after the U.S. Securities and Exchange Commission (SEC) hammers it down.
Deaton is the expert who represented XRP holders in Ripple’s lawsuit with the SEC. According to the latest reports, he says that once banking giants like JPMorgan and Goldman Sachs get their piece of the crypto pie, US officials will conveniently draw up a regulatory framework for the industry.
“Crypto isn’t dead. I will say this again: this is all about crushing the market and then, watch, JPMorgan and Goldman Sachs, etc. will get a bigger slice and then give Gensler a call, and then there will be some ‘framework’ worked out.”
