XRP Steals the Show Amid Cryptocurrency ETF Slump
Bitwise Asset Management has closed its Dogecoin ETF after experiencing a significant slump in demand. The decision comes on the heels of several other cryptocurrency ETFs posting losses, including those tied to Bitcoin, Ethereum, Solana, and Hyperliquid products.
XRP, however, is bucking this trend with XRP spot ETFs recording net inflows of about $1.55 million on September 8. This is a significant contrast to the daily withdrawals seen in other popular cryptocurrencies.
The strong performance of XRP has been attributed to its growing adoption and increased institutional interest. In related news, F2Pool founder dismissed Zcash's recent price surge as a 'narrative bid', suggesting that market forces may not be solely responsible for the asset's gains.