Big investors are still betting crypto—and it’s not just Bitcoin in their sights.

Institutional investors have poured cash into Ripple (XRP)—the fifth-largest digital asset by market cap—for the 16th week running, according to a Monday report from digital assets investment firm CoinShares. 

Assets under management for XRP products have also risen 127% since the beginning of the year, the report noted. CoinShares Head of Research James Butterfill told Decrypt that $11.25 million worth of investor money has been put into XRP since the start of 2023.

The reason for apparently optimism is due to recent developments in the saga between Ripple Labs and regulators. In 2020, the U.S. Securities and Exchange Commission (SEC) hit Ripple with a $1.3 billion lawsuit, alleging that it had misled investors and sold unregistered securities in the form of XRP. 

But a federal district judge last

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Author: Mathew Di Salvo

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