Despite SEC Battle, XRP Investment Products Saw Record Inflows in 2022: Report

By 2022, many crypto assets have lost value, prompting investors to withdraw their money from the market. In turbulent times, the influx plummeted significantly.

According to CoinShares’ latest report, the inflow of digital assets hit a record $433 million, the lowest in four years. The most recent number hovered near current levels was in 2018, when he received $233 million in inflows.

• Bitcoin had the third worst year with inflows of $287 million after dropping more than 60% this year.
• Multi-asset investment products registered inflows of just $209 million.
• The merge was the biggest highlight in the Ethereum ecosystem. However, investor concerns over the success of the move to Proof of Stake (PoS) led to an outflow of $402 million.
• This figure reversed sharply compared to the last two years when Ethereum saw massive inflows of over $1.8 billion and $920 million respectively.
• Other altcoins to bear the brunt of the tumultuous year were the $24 million Binance Coin (BNB) and the $3 million outflow of Tron (TRX).
• Meanwhile, products for Litecoin (LTC) and Polygon (MATIC) registered $2 million and $1 million inflows, respectively.
• The leak of cryptocurrency exchange FTX severely affected the Solana network, but it ended the year with a profit of $121 million.
• XRP was unfazed by the twists and turns of the battle between cryptocurrency company Ripple and the US Securities and Exchange Commission (SEC). In fact, XRP-related investment products recorded the second highest inflow of $32 million in the last five years.
• Meanwhile, short-term investment products came to the fore with $108 million worth of inflows in 2022 as a whole.