Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
On-chain data shared by the @XRPwallets analytics account on the X platform shows that there is now one fewer cold XRP wallet at the largest U.S.-based cryptocurrency exchange, Coinbase.
According to the tweet, the number of cold XRP wallets at Coinbase has been falling quickly, along with the XRP stash held in those wallets.
Minus 16.5 million XRP at Coinbase
The XRP-focused analytics account @XRPwallets shared that over the past 24 hours, Coinbase has seen another 16.5 million XRP leave it into the ether from a cold wallet.
Instead of the eight cold wallets remaining today, Sept. 9, there are only seven wallets with 16.5 million XRP in each of them.
Three months ago, on June 9, the same account had tracked 52 cold wallets in total at Coinbase. Ten wallets among them contained 26.8 million XRP each, and 42 wallets held 16.5 million XRP each. Now, instead of 42 wallets with this amount of XRP, there are only seven remaining at Coinbase.
BlackRock uses XRP but does not launch ETF
As reported by U.Today earlier, this summer, the world’s largest wealth management company, BlackRock, inked a collaboration with the aforementioned crypto exchange, Coinbase. This platform is not only a custodian for its spot Bitcoin ETF. As of this summer, Coinbase began providing XRP to institutional customers of BlackRock’s investment firm, Aladdin.
The firm started offering Bitcoin services only, but now it has expanded its range of products. While BlackRock is using XRP in this way, it does not have plans so far to launch a spot XRP ETF, even though it has already rolled out ETFs based on Bitcoin and Ethereum.
But some experts believe that BlackRock’s rejection of this ETF might not last long.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team