Advertise
Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Aug 09, 2023 12:31 UTC
-
Fineqia Report: Ripple’s XRP Rises 57% in ETP Holdings Post SEC Win
Ripple's XRP surges 57% in ETP holdings to $76.8 million after SEC win, amid a 70% digital asset market growth.
Ripple stands out in ETPs' 70% AUM surge, highlighting its potential alongside Bitcoin and Ethereum.
Fineqia's research shows Ripple's rise boosts altcoins, leading to a 3.2% altcoin index increase to $1.08 billion.
Exciting developments are sweeping through the realm of digital assets, as recently revealed through an insightful analysis conducted by Fineqia.
Where Exchange Traded Products (ETPs) have surged by an astonishing 70% in Assets Under Management (AUM), Ripple’s XRP has taken center stage, showcasing exceptional performance.
All’s Well With Ripple!
This is going to be good news for Ripple enthusiasts. According to the meticulous analysis by the fintech moguls, Fineqia International Inc., Assets Under Management (AUM) of Exchange Traded Products (ETPs) holding Ripple swelled by an eye-popping 57%, leaping to $76.8 million from a modest $49 million.
This surge came hot on the heels of the favourable verdict in the SEC v. Ripple Labs face-off last month, a ruling that not only boded well for Ripple but also heralded a rising sun for certain altcoins.
The Digital Asset Dance
While the year-to-date period saw a hefty 70% growth in ETPs with digital assets as underlying collateral, with the AUM hitting $34 billion by July end, the highlight remains Ripple’s undeniably magnetic allure.
However, there’s a plot twist. Over 90% of the ETPs AUM was dominated by Bitcoin and Ethereum, a statistic that Fineqia CEO Bundeep Singh Rangar highlighted with caution. But in this landscape dominated by the crypto titans, Ripple’s meteoric rise stands as a testament to its emerging potential.
The Ripple verdict seemed to have breathed fresh air into other altcoins as well. Stellar (XLM), Solana (SOL), and Polygon (MATIC) witnessed their AUM swell by 40%, 39%, and 20% respectively. The altcoin index also enjoyed a 3.2% rise, touching $1.08 billion from its initial $1.04 billion at July’s dawn.
Fineqia’s Expert Eye
Fineqia, the digital asset and fintech powerhouse, wasn’t just content observing Ripple’s rise. Their in-depth research provided insights into the overall ETP ecosystem, encompassing other cryptocurrencies like Bitcoin and Ethereum, whose prices and AUMs saw minor fluctuations in July.
They diligently tracked 157 ETPs, incorporating factors like launches or closures, ensuring their data was as precise as a surgeon’s scalpel. And the sources? Esteemed names in the industry like 21Shares AG, Grayscale Investment LLC, and MorningStars, Inc., to name a few.
Do you think Ripple’s XRP is poised for further growth in the ETP market?
Yes 
No 
