Bitwise Secures $10.55 Million Inflow for XRP ETF

Bitwise recorded an inflow of $10.55 million on the last trading day by increasing its XRP holdings. Although the XRP price has declined in the last 24 hours, institutional interest appears to be ongoing. Bitwise has become the only institution to provide new capital inflow in the XRP ETF market. On the same day, Franklin Templeton and Canary Capital exited. This situation indicates that some institutional investors prefer to increase their XRP positions despite price pressure. After rising above $1.50 at the beginning of the week, XRP has retreated to around $1.43. However, the demand coming from the ETF channel reveals a short-term mismatch between price movements and institutional flows. The demand seen through Bitwise has raised questions about XRP's price potential for the remainder of the month. The inflows during the downturn suggest that institutional investors may have longer-term expectations. Bitwise's strongest XRP purchase in October indicates that demand on the ETF front has not completely disappeared.

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