Bitcoin and XRP gain Wall Street traction through Bitwise index launch
Bitcoin and XRP expanded their Wall Street footprint as part of Bitwise’s index listing on NYSE Arca amid $935 million ETF inflows.
- Almost $1 billion. Bitwise’s 10 Crypto Index Fund (BITW) began trading on NYSE Arca, expanding Bitcoin and XRP’s visibility in traditional markets.
Bitcoin and XRP got some more attention from Wall Street today. The 10 Crypto Index Fund by Bitwise finally got the green light from regulators and started trading on NYSE Arca, which means these two popular assets are becoming more connected to traditional investments.
Journalist Eleanor Terrett says it has been a tough go for the company, with the SEC causing delays that put the product on hold for a while.
- 10 assets. Current allocation: Bitcoin 74.34%, Ethereum 15.55%, XRP 5.17%.
As Bitwise explains, BITW keeps track of 10 major assets, which it divides up based on market capitalization and rebalances every month.
The latest composition makes it clear where market weight stands: Bitcoin takes the lead with 74.34%, Ethereum follows with 15.55% and XRP takes third place at 5.17%.
In the meantime, XRP’s ecosystem is already moving full steam ahead on its own. On Dec. 8, spot ETF products linked to the token saw $38.04 million in daily net inflows, bringing the total to $935.39 million. This also increased the total net assets to $923.71 million, with the price trading near $2.09.
Solana rage-baits XRP community with provocative new post
Solana doubled down on its XRP provocation, dropping a fresh new meme and tagging Ripple’s CTO a day after the viral 589 post.
- SOL vs. XRP. Solana posted “time to flip the switch” with a castle-themed illustration showing SOL at the top, with Bitcoin and XRP on opposite towers, clearly designed to stir reactions.
Solana escalated its unexpected outreach to the XRP crowd today with a new post captioned ‘time to flip the switch’, accompanied by a castle-themed illustration placing SOL at the top, Bitcoin and XRP on opposite towers, and a medieval cast of characters that looked intentionally crafted to provoke a reaction.
The detail that pushed the whole thing into a different league was the account tagging David Schwartz, Ripple’s CTO and one of the original architects of the XRP Ledger, who has not reacted yet, despite the growing noise around the post.
- Pleasantly confused. Schwartz replied to the earlier post asking for clarification.
The timing wasn’t accidental. The Solana account had already detonated an XRP-focused spark less than 24 hours earlier when it posted a single number: 589. That number carries a long-running status inside the XRP community, tied to a never-confirmed price myth born from old Simpsons screenshots and endlessly recycled memes.
Schwartz replied to the First Ledger account, asking to clarify the lore behind the original post, with an honest answer: “For the first time in my life, I think I’m pleasantly confused.”
Shiba Inu whale spike points to rising volatility
SHIB could be on track to experience more volatility following an uptick in whale activity.
- Whales awakening. Santiment reports the highest number of large SHIB transfers since June 6.
Shiba Inu (SHIB), one of the leading meme cryptocurrencies, has experienced a lot of activity from “whales.” Specifically, there have been more large transfers than on any day since June 6, according to the data provided by analytics platform Santiment.
At the same time, the total amount of Shiba Inu held on exchanges increased by 1.06 trillion SHIB. This essentially means that a lot of coins are now available on exchanges (possibly for selling).
- High volatility. Analysts warn this combination typically precedes heightened short-term volatility.
Due to these factors, the token is likely to experience more volatility in the next few days, Santiment warns.
According to CoinGecko data, SHIB is up by nearly 6% over the past 24 hours. The token’s market cap is currently sitting just below the $5 billion mark. As reported by U.Today, a moderate relief rally could be in the cards for the popular meme coin, but traders should not anticipate a sharp price spike.