Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
Bitwise Makes Biggest XRP Purchase in October

Bitwise Makes Biggest XRP Purchase in October

UTodayUToday2026/10/08 07:03

Bitwise has expanded its XRP exposure again as institutional investors appear to have shown renewed interest during the last ETF trading session.

Bitwise attracts more capital 

Although XRP has failed to sustain the uptrend seen during the weekend, institutional investors remain convinced about its future price potential.

As such, they have continued to expand their XRP exposure through Bitwise, as data shows that Bitwise has bought over $10.55 million worth of XRP.

The purchase came after Bitwise attracted fresh capital into the XRP ETF market, representing the sole capital contributor among all XRP ETFs, as major funds like Franklin Templeton and Canary Capital only recorded withdrawals for the day.

Notably, the move represents the largest XRP purchase Bitwise has made since October began, as it had only recorded little to no inflows in the past few days.

XRP turns bearish 

While the size of the recent XRP purchase from Bitwise is not entirely significant, the timing of the transaction has made it most noticeable, as it suggests that investors may be buying XRP's dip.

Despite trading above $1.50 earlier this week, XRP has suddenly reversed to a deeper price level in the last day, dropping to around $1.43 earlier today.

The subtle XRP ETF demand through Bitwise marks a major divergence from its current price movement, sparking curiosity about XRP's price potential for the rest of the month.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

BUZZ - Levi Strauss shares drop due to weak sales in the US and Europe

On October 8, Levi Strauss (LEVI.N) shares fell 1.3% in pre-market trading to $19.25 after the company reported lower-than-expected sales in the U.S. and Europe. BTIG commented: “This quarter, the European direct-to-consumer (DTC) business was hit by unusually warm weather, but as temperatures return to normal, foot traffic and sales trends have improved, maintaining a positive outlook in early Q4.” The brokerage also noted that the company remains strong in wholesale, e-commerce, and market share in jeans, but its “back-to-school” marketing campaign did not meet expectations. Benefiting from tariff refunds on Wednesday, the company raised its annual profit forecast and is betting on strong demand for its premium jeans and sweaters during the holiday season. Sixteen analysts have an average “buy” rating; the median price target is $27, according to LSEG. The stock has risen 6% year-to-date as of the previous close.

路透社•2026/10/08 08:16