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Crypto

Bitwise buys $15.4 million worth of XRP as institutional demand persists

Asset manager Bitwise bought an additional $15.4 million worth of XRP, extending a streak of consecutive purchases even as XRP turned weaker. The buying drew attention because it came as XRP gave back part of recent gains. In the spot XRP ETF market, existing products logged steady daily net inflows over the past 2 weeks, and institutional funds also continued into Bitwise’s product. XRP fell to around $1.37, down about 0.55 percent over 24 hours.

Crypto

BlackRock buys bitcoin after it breaks $80,000 level, raising question of institutional demand rebound

Global asset manager BlackRock on Aug. 27 bought an additional $200.76 million worth of bitcoin. Blockchain outlet U.Today reported that inflows into the spot exchange-traded fund market continued after bitcoin recently moved above the $80,000 resistance level, lifting expectations of a return in institutional buying. Whale Insider data showed BlackRock made a large purchase, while spot bitcoin ETFs posted $232.12 million in net inflows the prior session.