XRP has been consolidating for three months since hitting its July 18th high of $3.66, and attention is now focused on the upcoming SEC decisions on ETF applications in October.
Market sentiment toward ADA improved after forecasters estimated the probability of approval for a spot Cardano ETF in the U.S. by October 26 at 91%.
On September 29, U.S. exchange-traded funds (ETFs) based on Bitcoin and Ethereum collectively attracted over $1 billion — nearly $522 million into BTC ETFs and $547 million into ETH ETFs.
The Polish parliament has passed a law on cryptocurrencies. The new legislation has been criticized for excessive regulation of the market. Industry representatives warn that the new rules and high costs will lead to an outflow of crypto businesses.
According to data from SoSoValue, on Tuesday, September 23, the net outflow from 12 spot Bitcoin ETFs in the United States totaled $103.61 million. Over just two consecutive negative days, the funds lost nearly $467 million.
This week, REX Shares and Osprey Funds may launch the first U.S. ETFs based on the cryptocurrencies XRP (XRP) and Dogecoin (DOGE).
Bulls have returned to the cryptocurrency market, and Dogecoin is now among the most profitable assets. Over the past 24 hours, the meme coin’s price has risen by nearly 14%, marking the best performance among large-cap cryptocurrencies.
Spot Bitcoin and Ethereum funds are once again seeing rising demand from institutional investors. On Friday, September 12, they attracted $642 million and $405 million, respectively.
During Taipei Blockchain Week, Sora Ventures unveiled Asia’s first Bitcoin fund, aiming to purchase $1 billion worth of BTC over the next six months.
On Tuesday, Bitcoin funds outperformed Ethereum ETFs in terms of investment flows.
During the week of August 18-22, iShares Ethereum Trust ETF (ETHA) from BlackRock, the largest asset manager, attracted $1.24 billion, ranking second among more than 4,400 exchange-traded funds.
From August 21 to 27, Ethereum funds attracted $1.83 billion, significantly surpassing Bitcoin ETFs, which saw inflows of just $171 million.
Last week, bitcoin- and ethereum-based exchange-traded funds lost $1.43 billion. This ended a two-week inflow period during which $4.3 billion had been attracted.
After the conclusion of the Ripple and U.S. Securities and Exchange Commission (SEC) case, the regulator’s focus shifted to the possible approval of an exchange-traded fund (ETF) based on XRP.
On Tuesday, August 19, U.S. spot Bitcoin and Ethereum funds lost nearly $1 billion as investors grew pessimistic following a market price decline.
The main drivers of Ethereum’s price growth, according to the bank’s analysts, are increased demand from large funds and crypto-accumulating companies, as well as the U.S. stablecoin legislation known as the GENIUS Act.
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