Bitwise Buys XRP for Three Consecutive Days

XRP is seeing sustained institutional demand as it continues to make big price moves in recent days, with Bitwise consistently buying the asset in large quantities.

Bitwise has just bought XRP for the third consecutive day this week, scooping up the asset in large quantities as its ETF market begins to see growing demand.

As investors continue to pour fresh investments into the Bitwise fund, the company has joined Franklin Templeton in attracting fresh capital to the XRP ETF market.

Notably, this has pushed the XRP spot ETF inflows to $14.89 million as of their last trading session, according to the latest on-chain data.

Following the strong performance seen during the latest trading session, Bitwise has bought about 6.48 million XRP after attracting a total of $9.91 million in fresh capital.

While Bitwise has continued to lead with stronger capital flows, Franklin Templeton’s XRP ETF followed with about 3.36 million XRP worth over $4.98 million in inflows.

Together, Bitwise and Franklin Templeton performed as the only contributors of new capital recorded that day, accounting for all the total net inflow of 9.74 million XRP worth over $14.89 million.

Following the sustained demand for the XRP investment product, cumulative inflows into the XRP spot ETFs have now reached a massive $1.76 billion.

While their combined net assets have also reached $1.70 billion, the XRP ETF market is about to hit a $2 billion milestone in barely one year since launch.

Out of all funds issuing the product, Bitwise has retained dominance, remaining the largest XRP fund with $613.77 million worth of assets.