US place Exchange-traded funds (ETFs) are on track to surpass $1 billion in net inflows in the coming days, according to Mati Greenspan, founder of Quantum Economics.
Introduced on November 14, the ETFs have experienced a 15-day inflow streak that has seen them accumulate a net $897.35 million, according to SoSo data. Funds from Canary Capital, Grayscale, Bitwise and Franklin Templeton accounted for the majority of the inflow.
“He will certainly continue this momentum and reach the milestone shortly. The path is now clear,” Greenspan said in an interview with CoinDesk.
“In many ways,
Institutions are encouraged by the end of the court case between Ripple and the US Securities and Exchange Commission in August, which concluded that XRP is not a security, although it fined the company $125 million for securities law violations.
“Institutions are responding to their new regulatory clarity, their current market position and their long operating history,” Greenspan said. However, “XRP hasn’t shown the same pace of innovation or user-driven traction as some of the newer networks, but legacy matters.”
Over-the-counter (OTC) desks have helped sustain inflows during a period of broader market selloffs that hit Bitcoin. and ether ETF, according to a report from Investing. The stability provided by the OTC channel allows XRP ETFs to attract higher quality institutional capital compared to bitcoin and ether debuts.
XRP ETFs’ streak places them among the fastest-growing class of major cryptoasset vehicles. Passing the $1 billion milestone in less than a month could be seen as a sign of significant acceptance and liquidity for the asset within traditional financial markets.
