CoinShares, which develops infrastructure services to provide liquidity to institutional investors, shared the latest status of its altcoin portfolio in its 2022 first quarter financial report. Instead of SHIB or BTC, XRP experienced a huge spike between 2021 and March 2022.
CoinShares multiplies XRP investments instead of SHIB and BTC
CoinShares’ investment in XRP has exceeded $3.83 million in a three-month period despite the ongoing legal battle between Ripple and the SEC. reached on it. Leading digital asset management firm CoinShares announced in its first quarter 2022 financial report that Ripple (XRP) investments increased tremendously between December 2021 and March 2022.
At the end of the 4th quarter of 2021, XRP investors were worth approximately $3.4 million, CoinShares posted an increase of $3.83 million in the first quarter of 2022. According to the financial report, CoinShares reported that at the end of the first quarter of 2022, XRP investments were worth a total of $7.17 million, an increase of $3.83 million between Q4 2021 and Q1 2022.
CoinShares adds another 4 million XRP to its balance
Although CoinShares did not disclose whether it added more XRP to its investments between the end of Q4 2021 and the first quarter of 2022 Looking at the asset class prices over the period, it seems that more XRP has been added to the firm’s Ripple portfolio. At the end of the 4th quarter of 2021, XRP was trading around $ 0.84, while its price was trading around $ 0.86 at the end of the first quarter of 2022.
Considering the price differences in both quarters and the dollar valuation of CoinShares XRP reported in the first quarter of 2022, the digital asset management firm appears to have increased its XRP holdings by over 4 million.
Ripple and SEC litigation does not affect CoinShares investments
Meanwhile, the UK-based digital asset management firm, Ripple’s US Securities and Exchange Commission XRP looks bullish despite its ongoing litigation with the SEC that caused the coin’s price to drop by a large margin. As Kriptokoin.com , the case is not over yet as new developments continue to emerge on a weekly basis. There is currently no guarantee that the case will be settled this year.
However, investors are hoping that the outcome of the case will be in Ripple’s favor to push the XRP price above $3, the ATH level recorded on January 4, 2018. CoinShares does not seem to have backed out from the lawsuit as it has steadily increased its position in the sixth largest cryptocurrency by market capitalization.
