19 Banks Invest €9.4 Billion in Crypto, XRP Gains Prominence

According to CryptoPotato, a recent report from the Basel Committee on Banking Supervision (BCBS) revealed that 19 leading banks across North America, Europe, and other regions have collectively invested €9.4 billion (approximately $10.27 billion) in various crypto assets, with XRP emerging as a favorite. XRP constitutes about 2% of the total exposure, amounting to €188 million or $205 million, making it the third-largest altcoin in the banks' reported commitments. Bitcoin (BTC) and Ethereum (ETH) remain the dominant coins in the banks' crypto investments, with BTC accounting for 31% and ETH at 22%. Investment vehicles tracking these leading cryptocurrencies also play a significant role, representing 25% for BTC and 10% for ETH. The BCBS report also highlighted other popular cryptocurrencies in the financial institutions' portfolios, such as Polkadot (DOT), Cardano (ADA), Solana (SOL), and Litecoin (LTC). Although these coins have smaller percentages, their inclusion indicates a growing interest and acceptance of public blockchains within the banking sector. XRP's institutional interest has surged amid Ripple's legal victories against the SEC and the company's expansion of its banking services to dozens of countries in recent weeks. Crypto institutional inflows reached $1.32 billion, with digital asset investment products attracting inflows of $176 million last week, according to a CoinShares report. XRP saw inflows of $0.5 million, while Cardano (ADA) and Litecoin (LTC) also experienced positive inflows, with $0.8 million and $0.4 million, respectively.