Crypto asset manager and research firm CoinShares says institutional investors poured millions of dollars into altcoin digital asset investment products last week.

In its latest Digital Asset Fund Flows Weekly Report, CoinShares says crypto products enjoyed inflows last week after record-setting levels of outflows.

“Digital asset investment products saw US$226m of inflows last week suggesting a positive but cautious investor. Following the largest outflows on record, ETPs have seen 9 consecutive trading days of inflows.

Last Friday was the exception, seeing minor outflows totaling US$74m, likely in reaction to core personal consumption expenditure in the US coming in above expectations, implying the US Federal Reserve is likely to remain hawkish despite recent data alluding to weak growth.”

Bitcoin (BTC) products, as usual, led the charge with $195 million in inflows. The king crypto was followed by altcoins, which broke a month-long streak of outflows. Leading inflows were Ethereum (ETH), Solana (SOL), XRP and Sui (SUI).

“Altcoins in aggregate saw their first week of inflows totaling US$33m, following 4 consecutive weeks of outflows totaling US$1.7bn. The key beneficiaries being Ethereum, Solana, XRP and Sui, with inflows of US$14.5m, US$7.8m, US$4.8m and US$4.0m respectively.”

Regionally, the US led the world with $204 million in inflows. Switzerland and Germany also pitched in $14.7 and $9.2 million in inflows, respectively.

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Crypto asset manager CoinShares says institutional investors poured billions into digital asset investment vehicles last week following Trump’s executive orders directed at the industry.

In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment vehicles raked in nearly $2 billion last week alone.

“Digital asset investment products saw inflows totaling US$1.9bn last week bringing year-to-date (YTD) inflows to US$4.8bn — likely as a result of recent presidential executive orders that proposed the initiation of a strategic reserve asset in Bitcoin.

Despite the relatively flat price action last week, trading volumes were high at US$25bn for the week, comprising 37% of all trading volumes on trusted crypto exchanges.”

The United States regionally led international inflows, raking in $1.7 billion of the $1.9 billion in inflows. Canada, Switzerland and Germany provided $31 million, $35 million, and $23 million, respectively.

Bitcoin (BTC), per usual, snatched up the lion’s share of inflows.

“Bitcoin saw inflows totaling US$1.6bn, bringing YTD inflows to US$4.4bn, accounting for 92% of all inflows in the digital asset sector. Following Bitcoin’s pre-inauguration new all-time highs last week, it was no surprise to see short-Bitcoin ETFs regain traction, with inflows of US$5.1 million.”

Ethereum (ETH) led altcoins with $205 million in inflows, bringing YTD ETH inflows to $177 million. With the exception of Cardano (ADA), no crypto institutional investment products suffered outflows last week.

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CoinShares has submitted a filing to the U.S. Securities and Exchange Commission (SEC) for a spot XRP exchange-traded fund (ETF). The move is part of a surge in cryptocurrency ETF filings as financial firms seek to expand options for digital asset investments in the U.S. market.

CoinShares Seeks Approval for XRP ETF

CoinShares has submitted a registration statement on form S-1 to launch a physical XRP exchange-traded fund. This comes under the backdrop of more financial firms seeking Cryptocurrency ETFs after the approval of spot Bitcoin and Ethereum ETFs in the earlier part of last year.

Apart from CoinShares’ XRP ETF filing, several other applications for cryptocurrency ETFs were submitted on January 25. CoinShares also submitted an S-1 for a spot Litecoin ETF, indicating that there is growing interest in altcoins ETFs. At the same time, Grayscale filed a 19b-4 application to have its Solana Trust (GSOL) and Litecoin Trust turned into ETFs.

Grayscale Investments also submitted a 19b-4 application to convert its Solana Trust and Litecoin Trust into spot ETFs. Similarly, BlackRock, an asset management company, has also submitted an application for in-kind creation and redemption of its iShares Bitcoin Trust (IBIT).

Regulatory Landscape Shifts Under New SEC Leadership

The filings occur at a time when there could be shifting regulatory environment under the new administration. Prior to this, the former SEC Chair, Gary Gensler, resigned and Trump nominated Paul Atkins, a pro-crypto chair, for the position.

Market participants are hopeful that Atkins’s pro-crypto stance could lead to more ETF approvals in the market. The SEC, under acting chair Mark Uyeda, has also established a new cryptocurrency task force headed by Commissioner Hester Peirce to help develop better guidelines for the industry.

The task force is to consider the registration issues, improve the disclosure requirements and employ the enforcement tools more effectively. This change in the regulatory landscape might be beneficial for cryptocurrency ETFs, including those that are linked to XRP and other altcoins.

Will Ripple Vs SEC Case Influence XRP ETF Filings?

Despite the XRP ETF filing, Ripple Labs, the company associated with XRP, is still embroiled in a legal battle with the SEC. The lawsuit centers on whether XRP should be classified as a security, a decision that could affect the cryptocurrency’s regulatory status and its prospects for ETFs.

Ripple recently requested an April 16, deadline for its appeal and cross-appeal briefs in the case. Lawyers following the matter speculate that the new SEC leadership may opt for a resolution rather than prolonging litigation.

Pro-XRP legal expert Bill Morgan opined that the SEC could try to negotiate a settlement or even dismiss the appeal particularly under the leadership of Atkins. Such a resolution could remove all legal ambiguities for XRP and also increase the chances of approval of the ETF.

While this XRP ETF filing is ongoing, the XRP price has appreciated by 1.5% at the time of writing, trading at $3.12. Concurrent with XRP ETF approval speculation, analysts have predicted the XRP price would rally after a crucial bullish breakout toward the $10 high.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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