CoinShares customers have turned to XRP as they exit their Bitcoin and Ether investments.
Approximately $3 million has been added to XRP, which represents 9% of CoinShares’ assets under management.
While the leading cryptocurrency Bitcoin saw an outflow of $ 6.5 million, there was an outflow of $ 3 million from Ether. This marked the eighth consecutive week of Ether launches.
The company announced that its transaction volumes, which were $ 9 billion in 2022, decreased to approximately $ 5 billion per day.
Ripple Litigation Continues
The case regarding Ripple’s native token XRP is still ongoing. The US Securities and Exchange Commission sued the company in 2020 on the grounds that XRP is a security.
The regulator claimed the company’s CEO, Brad Garlinghouse, and co-founder Chris Larsen had sold $1.3 billion in unregistered securities. The company denies at every turn that XRP is a security.