Report: AUM of Stellar, Ripple, and Solana-linked investment funds surged in July

Odaily Planet Daily News According to a report by CCData, the asset management scale (AUM) of investment funds related to Stellar, Ripple, and Solana soared in July, with most of the growth occurring on July 14. The move comes a day after a U.S. judge ruled that selling XRP tokens on exchanges does not constitute an investment contract, a decision that led to a surge in the entire crypto market, especially XRP as well as other altcoins including XLM and SOL. XLM-based products AUM increased by 62.7% to $17.3 million. These funds include Grayscale's Stellar Lumens Trust (XLM), which has seen its NAV premium soar as high as 330%, CCData said. According to the report, the AUM of XRP-based investment funds increased by 33.2% to $65.7 million in July; the AUM of SOL-based investment funds increased by 55.7% to $87.8 million. (CoinDesk)