Bitwise XRP Buying Streak Continues Amid Strong Institutional Interest

Bitwise Asset Management has been acquiring XRP for its exchange-traded funds (ETFs), and this trend continues. The company's chief investment officer, not named in the source, attributes the strong institutional interest in Ripple's token to factors beyond price.

The latest acquisition saw Bitwise purchasing over $19 million worth of XRP in a single session, further cementing its position as the primary driver of flows into the token's ETFs. This buying streak is part of a broader trend that has seen institutions accumulate XRP during the market downturn.

According to data from SoSoValue, U.S. spot XRP ETFs have recorded net inflows of $18.04 million on September 23, lifting cumulative inflows to $1.748 billion. Bitwise's XRP ETF has been a significant contributor to this trend.