Bitwise's XRP ETF has seen fresh inflows despite the slump in cryptocurrency markets, according to data from TipRanks. The fund's performance is measured by the TipRanks Smart Score, which uses a backtested strategy to evaluate its effectiveness.
The backtested results show that Bitwise's XRP ETF has been able to outperform the market in certain scenarios, but it's essential to note that past performance does not guarantee future success. The fund's performance is subject to various assumptions and limitations, including the ability to purchase securities recommended by the model and sufficient market liquidity.
Despite these caveats, the fresh inflows into Bitwise's XRP ETF suggest that some investors remain bullish on the asset. This could be seen as a contrarian view, given the current slump in cryptocurrency markets.