Bitcoin ETFs Pull In $6.34 Billion in Q3, Best Quarter of 2026

The SEC proposed a rule allowing investment advisers to hold Bitcoin and other cryptocurrencies for clients, potentially directing significant funds into the market. The rule updates the Investment Advisers Act and Investment Company Act, enabling state trust companies and broker-dealers to act as custodians. Advisers could hold private keys under strict conditions, but custodians will likely decide which cryptocurrencies are accessible.

Evernorth received shareholder approval for its Nasdaq listing, expected to close on Oct. 7 under ticker XRPN. The company will hold 473M XRP, valued at $710M, making it the largest publicly traded XRP treasury. The deal aims to raise $300M, including $225M from private placements and $30M in convertible notes.

Ripple unlocked 1 billion XRP ($1.49B) from escrow in four transactions. The company's monthly process may impact XRP supply and price, though not all tokens are sold. XRP price dropped 2% following the unlock. According to on-chain data, the amounts were 400M, 300M, 200M, and 100M XRP.

Bitcoin's price fluctuated between $83,200 and $85,000, ending with a 1% gain. Liquidations dropped to $35M, with long positions dominating. Citigroup raised its 12-month target to $113K, citing market activity and ETF inflows.

XRP price rose 0.90% to $1.50 in 24 hours, tracking broader crypto market gains. The increase was driven by positive macro sentiment, including softer inflation data and Citigroup's bullish Bitcoin forecast. XRP's movement mirrored Bitcoin's 1.42% rise and the total crypto market's 0.92% increase. The token's price was unaffected by Ripple's escrow unlock or Evernorth's merger vote.

Bitcoin (BTC) rose 1.24% to $84,776.95 after Citigroup raised its 12-month price target to $113,000 from $82,000, citing ETF inflows and macro conditions. Analysts note institutional validation boosted sentiment. Bitcoin's short-term direction is sensitive to macro data, with key resistance at $85,600.