The U.S. spot XRP ETF experienced a significant surge in daily inflows, doubling from $730,400 to $1.48 million as of May 20. This increase was primarily driven by the XRPZ fund under Franklin Templeton, while other issuers like Bitwise and Canary Capital saw no inflows. The cumulative net inflow across all funds reached $1.39 billion, with total assets under management rising to $1.12 billion, representing 1.34% of XRP's market cap.
The surge in inflows is attributed to recent political developments, notably the U.S. Senate Banking Committee's passage of the Digital Asset Market Transparency Act. This legislation, supported by bipartisan votes, reduces regulatory risks for institutional investors by reinforcing XRP's status as a digital commodity. Despite the inflow surge, XRP's price remains in a 105-day consolidation phase, fluctuating around $1.36, suggesting a potential continuation of this trend until significant market shifts occur.
XRP ETF Inflows Double Amid U.S. Regulatory Developments
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