XRP Investment Products Witness Surge in July

XRP, Solana (SOL), and Stellar (XLM) witnessed massive spikes in the AUMs of their investment projects in July.

July has proven momentous for the crypto market, with significant surges observed in various investment products’ assets under management (AUM). The standout performers were XRP, SOL, and XLM, whose products experienced remarkable waves over the past month.

The catalyst behind the surge in XRP’s AUM was the highly-anticipated ruling in the Ripple vs. SEC case on July 13. The favorable outcome of the legal battle against the SEC sent shockwaves throughout the crypto community, instilling newfound confidence in XRP investors and enthusiasts. 

As a result, XRP-based investment products witnessed an impressive 33.2% increase in AUM, reaching $65.7 million. This is according to information from market data provider CCData in its latest Digital Asset Management Review.

This surge exemplifies the impact regulatory clarity can have on digital asset investments. The positive sentiment surrounding XRP extended to other digital assets as well. Solana (SOL) and Stellar (XLM) investment products also experienced substantial growth in AUM during the same period. 

SOL-based products recorded a staggering 55.7% surge, soaring to an AUM of $87.8 million. Meanwhile, XLM-based products saw an impressive 62.7% spike, reaching $17.3 million in AUM. These remarkable gains indicate a growing interest in crypto-based investment products.

BTC and ETH Experience Mild Increase

While XRP, SOL, and XLM took the spotlight with their significant AUM growth, other major cryptocurrencies also displayed encouraging trends in July. 

Bitcoin (BTC), the pioneer of the digital asset market, saw a minor yet noteworthy 0.5% increase in AUM, reaching a total of $24 billion. This steady growth underscores Bitcoin’s enduring appeal as a store of value and its resilience in the face of market fluctuations.

Similarly, Ethereum-based products also saw positive developments, with a 4.25% increase in AUM to $7.42 billion. Ethereum’s (ETH) versatility and its role in powering the DeFi ecosystem continue to attract investors seeking exposure to the vibrant world of decentralized applications.

XRP and ETH See Inflows While BTC Faces Outdlows

Recent developments have shown notable differences in investor activity across major crypto assets. Notably, BTC experienced weekly outflows totaling $13 million, while ETH observed weekly inflows of $6 million. 

In addition, XRP also saw inflows to the tune of $2.6 million, per data from Coinshares. This trend suggests a shift in investor preferences, with some opting to withdraw from Bitcoin investments and others showing renewed interest in Ethereum and XRP.

The flow of funds into Ethereum and XRP investment products indicates a growing positive sentiment surrounding these cryptocurrencies. The inflows may be influenced by recent regulatory developments and specific news related to these projects.