Bitcoin-related investment products experienced outflows of $13 million over the past week, marking the first week of outflows since June. In contrast, Ether and XRP investment products saw a combined inflow of $9.2 million. Ether investment products were the best performer with inflows of $6.6 million, while XRP funds recorded an inflow of $2.6 million. The change in sentiment may be attributed to Ripple’s partial victory against the SEC, which ruled that XRP is not a security when sold on exchanges to the general public. Despite the outflows, Bitcoin remains the dominant digital asset investment product, with $558 million in inflows so far in 2023 and a total of $25.0 billion in assets under management. BTC is currently priced at $29,128.
