Institutional investors increased allocations to XRP, Stellar's XLM and Solana's SOL based products this year, data shows. By shauryamalwa.
A new report by CCData shows investments in XLM-based products increased by 62.7% to $17.3 million in assets under management , led by a significant spike in Grayscale’s XLM product, which recorded a premium of over 330%.
However, in terms of product volumes, ProShares' Bitcoin Strategy ETF dominated volumes with $179 million in average daily volumes, an increase of 2.96% from June. Grayscale’s bitcoin and ether trust products followed, with an average daily volume of $83.0 and $31.0 million a 29.7% and 60.4% increase, respectively.Earlier this month, a U.S. judge ruled the sale of XRP tokens on exchanges did not constitute investment contracts, bringing some cheer to XRP.
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