Coinbase’s XRP Exodus: BlackRock Accumulation Theory Gains Momentum

Recent on-chain data from Coinbase has sent shockwaves through the XRP community, revealing a staggering 74% reduction in the exchange's XRP holdings from 780.13 million to just 199 million tokens since Q2 2025. The most dramatic decline occurred in August 2025 alone, with a massive 57% drop within a single month. This unprecedented movement of nearly 600 million XRP tokens has sparked intense speculation within the cryptocurrency community, with many analysts pointing to potential institutional accumulation. The timing and scale of these withdrawals have led to widespread theories that asset management giant BlackRock might be behind this coordinated accumulation strategy. Market observers note that such large-scale movements are highly unusual for retail investor behavior and bear the hallmarks of sophisticated institutional positioning. The speculation is further fueled by BlackRock's growing interest in digital assets and their existing relationship with Coinbase for crypto custody services. While neither BlackRock nor Coinbase has officially commented on these specific transactions, the market is closely monitoring whether this signals a major institutional endorsement of XRP amid ongoing regulatory developments. This potential institutional involvement could represent a significant shift in XRP's market dynamics and institutional adoption narrative.

Speculation Swirls Around BlackRock's Potential XRP Accumulation Via Coinbase

Ripple's XRP community is abuzz with renewed speculation after on-chain data revealed a dramatic decline in Coinbase's XRP holdings. The exchange's reserves plummeted from 780.13 million to 199 million tokens since Q2 2025, with a staggering 57% drop occurring in August alone. This anomalous movement has ignited theories ranging from institutional maneuvering to covert accumulation by asset management giant BlackRock.

Market observers note the scale of outflow defies typical retail sell-off patterns. Prominent crypto analyst Crypto X AiMan contends the reduction aligns with strategic institutional positioning rather than exchange liquidation. While BlackRock has publicly denied plans for an XRP ETF, the persistence of these rumors suggests deeper institutional interest may be unfolding behind the scenes.

Coinbase Expands Spot Market With 3 New Altcoin Listings

Coinbase has announced the addition of three new altcoins—Kamino (KMNO), Dolomite (DOLO), and Solayer (LAYER)—to its spot market. Trading will commence on or after 9:00 AM Pacific Time, contingent on liquidity conditions and regulatory approvals in supported regions.

The listings triggered modest price gains across all three tokens shortly after the announcement. KMNO and DOLO will be accessible on Coinbase.com, the Coinbase app, and Coinbase Advanced, while institutional investors can trade them via Coinbase Exchange. LAYER, a Solana-based token, will also be available to retail and institutional users.

Coinbase emphasized the importance of using correct contract addresses for each asset to avoid permanent loss of funds. KMNO and LAYER operate on the solana network, while DOLO is an ERC-20 token on Ethereum.

BlackRock XRP Acquisition Rumors Via Coinbase Trigger ETF Filing Questions

Coinbase's XRP holdings have plummeted 75% from 780.13 million to 199 million tokens since Q2 2025, with a staggering 57% drop in August alone. The dramatic decline has fueled intense speculation about BlackRock's potential entry into the XRP market, despite the firm's public denial of a spot ETF filing.

Eight asset managers have already submitted XRP ETF applications, signaling growing institutional interest. Analysts are divided between interpreting the Coinbase outflows as institutional sell-offs or strategic custody transfers. Crypto X AiMan contends the movements reflect custody arrangement changes linked to BlackRock rather than mass liquidations.

South Korea Lifts Seven-Year Ban on Crypto Companies Seeking Venture Status

South Korea has removed a longstanding restriction that barred cryptocurrency businesses from obtaining venture company status. The Ministry of SMEs and Startups approved amendments to the Venture Business Act, effective September 16, enabling VIRTUAL asset exchanges and brokers to operate as recognized ventures. This reversal marks a significant shift from the 2018 policy that categorized crypto firms alongside gambling establishments amid concerns over market speculation.

Han Seong-sook, a key proponent of the change, emphasized the amendment's potential to foster innovation. The decision reflects South Korea's broader efforts to regulate its digital asset market, including the 2021 licensing framework for crypto service providers and the 2025 Virtual Asset User Protection Act. These measures introduced critical safeguards like deposit insurance and trading transparency, aligning the industry with global standards.

Parallel developments abroad—such as the SEC's 2024 approval of Bitcoin ETFs and the 2025 GENIUS Act for stablecoins—have further legitimized crypto markets. Major exchanges like Coinbase and Bullish have pursued public listings, signaling institutional confidence. South Korea's policy pivot now positions its domestic industry to compete in this maturing landscape.

UK Blockchain Petition Gains Momentum with Coinbase Backing

A petition advocating for a pro-innovation blockchain and stablecoin strategy in the UK has surged in support following a mobilization effort by Coinbase. The campaign, hosted on the UK government’s official platform, calls for regulatory clarity on stablecoins, tokenization advancements, and broader government adoption of blockchain technology.

The petition warns that without decisive action, the UK risks losing its competitive edge in financial innovation. It highlights the potential of stablecoins to underpin a tokenized economy, citing the US approach favoring stablecoins over a central bank digital currency.

London’s historical dominance in global finance is at stake, the petition argues, as digital assets transform traditional markets. "The future is digital, where equities, bonds, and real-world assets exist as tokens—tradeable 24/7, instantly, globally," the document states.

S&P 500 Hits Record High Amid Inflation Data; Crypto Stocks Outperform Bitcoin

The S&P 500 closed at a historic high of 6,587.47, while the Dow Jones surged 617 points to 46,108.00. The Nasdaq followed suit, climbing to 22,043.08. All three indexes achieved new intraday peaks, reflecting bullish sentiment despite mixed inflation figures. August's Consumer Price Index ROSE 0.4% monthly, exceeding the 0.3% forecast, while annual inflation held steady at 2.9%.

Crypto equities like Coinbase and Bit Digital outpaced Bitcoin's performance, continuing a trend observed since April. Wolfe Research notes Bitcoin's recent dominance over altcoins but questions its sustainability. The asset remains above $100,000—marking its longest stretch at this level—with ETFs drawing consistent inflows. Analysts suggest a potential climb to $115,000, though alternative trades may offer better short-term opportunities.