U.S. spot XRP exchange-traded funds (ETFs) recorded a robust net inflow of $67.74 million, elevating their cumulative net assets under management (AUM) to $844.99 million.

This marks the 12th consecutive day of positive inflows since the funds launched on November 13, 2025, positioning XRP ETFs as the fastest-growing major crypto asset vehicle in the market.

The milestone underscores accelerating institutional adoption of XRP, the native token of the Ripple network, even as it trades around $2.19—up nearly 10% in the past 24 hours.

The $67.74 million influx reflects sustained buying pressure from ETF clients, including major players like Vanguard, which recently listed XRP ETFs on its platform for broader access.

This builds on prior days’ momentum, with total inflows now approaching the $1 billion threshold. At least five spot XRP ETFs are active, including offerings from Grayscale (GXRP), Franklin Templeton (XRPZ), Bitwise, Canary Capital, and others.

Early launches saw strong debuts—e.g., Grayscale’s fund pulled in $67.36 million on day one, while Franklin Templeton’s attracted $62.59 million. Real-time trackers show over 339 million XRP tokens locked across these funds, equivalent to roughly 0.3% of the total circulating supply.

XRP’s price surge aligns with broader crypto optimism, including Bitcoin topping $92,000 and Ethereum at $3,073. However, on-chain data indicates 29% of XRP has left exchanges recently, signaling reduced selling pressure and potential for further upside.

Analysts note a bullish RSI divergence, hinting at a trend reversal despite prior volatility. This inflow streak highlights XRP’s maturation as a regulated investment option, outpacing many peers in growth rate. With ETFs now absorbing significant volumes like models suggest daily buys of 74.5 million XRP could drive prices to $600 under certain elasticity assumptions, it could catalyze a new bull cycle for the altcoin.

As the creator of XRP—the native cryptocurrency of the XRP Ledger (XRPL)—Ripple has been instrumental in shaping the regulatory, infrastructural, and market conditions that enabled these ETFs to launch in November 2025.

While Ripple does not directly issue or manage the ETFs which are handled by third-party asset managers like Grayscale, Franklin Templeton, and Bitwise, its efforts in legal advocacy, technological development, and ecosystem building have been pivotal in unlocking institutional access to XRP.

Ripple’s four-year legal battle with the U.S. Securities and Exchange Commission (SEC)—initiated in 2020 over allegations of unregistered securities sales—served as a critical proving ground for XRP’s non-security status. A landmark July 2023 court ruling affirmed that XRP sold on public exchanges is not a security, while institutional sales were deemed violations.

The SEC appealed but withdrew its challenge in March 2025, culminating in an August 2025 settlement that fully resolved the overhang. This clarity was the green light for spot ETF filings, as it aligned XRP with the regulatory framework that approved Bitcoin and Ethereum ETFs in 2024.

Without this resolution, issuers like Canary Capital and Bitwise could not have pursued “auto-effective S-1” filings under the SEC’s streamlined 2025 process. Ripple CEO Brad Garlinghouse has publicly hailed the outcome as a “win for the entire crypto industry,” emphasizing how it positions XRP as a utility token for payments rather than an investment contract.

The ledger’s consensus protocol enables near-instant transactions (3-5 seconds) at low costs, making it ideal for the high-volume creations and redemptions in ETF operations—where authorized participants exchange baskets of XRP for fund shares.

Ripple’s On-Demand Liquidity (ODL) solution, which uses XRP as a bridge asset for cross-border payments, further underscores its real-world utility, attracting banks and institutions that now view XRP ETFs as a regulated entry point.

Ripple’s recent innovations, like the XRPL lending protocol and integration with ISO 20022 standards, enhance this appeal. For instance, Abu Dhabi’s approval of Ripple’s RLUSD stablecoin for institutional use ties directly into ETF liquidity pools.

Garlinghouse has stressed XRP’s role as a “temporary settlement layer” in global finance, a narrative amplified on X where analysts link it to ETF-driven volume surges. Funds like Grayscale’s GXRP explicitly reference the “peer-to-peer Ripple Network” in their prospectuses, crediting it for XRP’s 13-year track record of reliability.

Ripple’s $500 million funding round in November 2025 at a $40 billion valuation—from firms like Citadel Securities—signals strong backing for scaling XRP’s role in tokenized assets and remittances, projected to capture 14% of SWIFT’s volumes.

While Ripple holds a significant portion of XRP about 40 billion in escrow, it does not directly sell to ETFs, avoiding past SEC scrutiny. Instead, it supports market makers and liquidity providers.

Ripple’s presence at events like Swell 2025, alongside White House officials, has sparked ETF buzz, with posts highlighting how these ties could drive $8 billion in inflows.

ETFs as a Ripple-Led Bull CatalystSince the November 13, 2025, launch of the first spot XRP ETF Canary’s XRPC, with $58 million in debut volume, Ripple’s ecosystem has seen explosive growth.

Total ETF AUM hit $844.99 million by December 3, outpacing early Bitcoin ETF inflows in relative terms. Analysts forecast a 65% XRP price rally to $3.60+ by year-end, driven by ETF demand reducing exchange supply 29% of XRP off exchanges recently.

Ripple’s positioning of XRP for $30 trillion in tokenized assets amplifies this, with ETFs funneling retail and institutional capital into its payments infrastructure. However, risks persist: XRP’s price remains volatile down 40% from its $3.65 July ATH, and competition from stablecoins like USDT challenges its dominance.

Ripple’s escrow releases 1 billion XRP monthly could pressure supply if not managed tightly. Ripple envisions XRP ETFs as a “regulated gateway” to its broader mission of modernizing $120 trillion in annual cross-border flows.

With more filings pending (e.g., 21Shares’ TOXR launching December 2), and futures ETFs like ProShares’ UXRP paving the way, Ripple’s role could evolve into deeper integrations, such as ETF-linked ODL pilots.

As Garlinghouse noted, “XRP connects the digital financial system”—a connectivity now supercharged by Wall Street. For investors, this convergence offers exposure to utility-driven growth, but always DYOR amid crypto’s inherent risks.

Leveraged exchange-traded funds tied to Strategy Inc., the bitcoin-hoarding Nasdaq heavyweight that built its identity on turning corporate cash into cryptocurrency, are among the worst casualties of this year’s crypto market slump.

The downturn has exposed how fragile leveraged vehicles become when their underlying asset breaks down, and it is prompting renewed debate about whether corporate treasury strategies anchored to bitcoin can survive prolonged risk aversion.

The T-Rex 2X Long MSTR Daily Target ETF and the Defiance Daily Target 2x Long MSTR ETF, which both aim to deliver twice the daily return of Strategy shares, have lost nearly eighty-five percent of their value in 2025. The T-Rex 2X Inverse MSTR Daily Target ETF, meant to offer twice the inverse performance, has also suffered heavy damage, sliding forty-eight percent during the same period.

The simultaneous collapse of both long and inverse leveraged plays reveals the strain that extreme volatility places on daily-reset products, where slump-on-slump losses can compound rapidly and erode capital even when investors guess the direction correctly.

Strategy itself has tumbled more than forty percent this year, dragged down further after bitcoin fell below ninety thousand dollars. The cryptocurrency had reached a record of $126,223.18 in October before global risk aversion choked off the speculative rally and sent capital fleeing to safer assets. That reversal has hit Strategy harder than most because its identity—and valuation—has been treated by markets as a high-beta proxy for bitcoin.

Michael Saylor’s buy-and-hold bitcoin treasury model, which turned Strategy into the most aggressive corporate accumulator of crypto, has inspired dozens of imitators, though many of the companies that mirrored the approach have also posted outsized share-price declines this year. With bitcoin sliding and equity markets jittery, investors have been forced to reassess the idea that enterprise value can sustainably track crypto holdings through every cycle.

The company’s “mNAV” metric has become a key focus. CEO Phong Le said on the “What Bitcoin Did” podcast that Strategy may consider selling bitcoin if the ratio falls below one. Reuters calculations using LSEG data place the ratio near 1.1, giving the company some breathing room, but the comment unsettled investors who long believed Strategy would never sell under adverse conditions. Mike O’Rourke, chief market strategist at JonesTrading, said Le’s remarks undermined Strategy’s central marketing message of not selling despite volatility.

The change in tone comes against a harsh financial backdrop. On Monday, Strategy cut its full-year outlook to a range between a $6.3 billion profit and a $5.5 billion loss, far below its earlier estimate of $24 billion in net profit. That earlier figure, issued October 30, was based on an assumption that bitcoin would reach $150,000 by year-end. The company also disclosed a $1.44 billion reserve to cover dividends on preferred shares and interest on existing debt, highlighting how the tightening crypto environment is eroding financial flexibility.

Vincenzo Vedda, chief investment officer at DWS, said the strategy works only when bitcoin rises, adding that once prices fall, the options left to the company become very limited. The comment captures how sharply investor sentiment has turned: when bitcoin rises, Strategy is hailed as a visionary; when it falls, the business model appears exposed.

Short sellers have seized the moment, earning more than $2.5 billion betting against the stock this year, including around $156 million on Monday alone, according to Ortex. The stock has fallen more than seventy percent from its November 2024 peak and has more than halved since joining the Nasdaq 100 index.

Despite all this, analysts remain surprisingly optimistic. Of sixteen brokerages covering the stock, ten rate it a “buy,” four call it a “strong buy,” and two advise holding, according to LSEG data. The median price target of $485 implies a one-hundred-eighty-three percent gain over the next year.

Saylor delivered a keynote titled “The Undeniable Case for Bitcoin” at a Binance conference in Dubai on Wednesday, even as markets reassess what the case looks like in practice.

The broader market downturn has revived concerns about regulatory risk, especially as leveraged crypto-linked ETFs come under scrutiny. Regulators in the United States and Europe have spent the last two years debating whether daily-reset leveraged products tied to volatile assets belong in retail portfolios. Episodes like the current slump tend to sharpen those debates.

With leveraged Strategy ETFs suffering extreme losses and undergoing heavy intraday swings, questions are growing about liquidity resilience—particularly whether creation and redemption activity can keep up when market makers face widening spreads and underlying shares move unpredictably. These pressures do not imply imminent malfunction, but they do underscore how thin liquidity can become when sentiment evaporates, and leveraged structures amplify stress.

Corporate bitcoin strategies face similar questions. The downturn exposes how sensitive these models are to market pricing and how little room they leave for operational conservatism. If Strategy ultimately sells bitcoin to defend its mNAV threshold, it would mark a symbolic shift for a company long positioned as an immovable accumulator. Even the possibility of such a move signals that corporate treasury models built around bitcoin may evolve into more flexible or hedged counterparts—something that could reduce the mystique but potentially improve balance-sheet stability.

For now, the slump is a reminder that the bitcoin-as-treasury model works spectacularly in bull markets and brutally in downturns. The leveraged ETFs tied to Strategy show the same truth in more explosive form. Investors earn exponential upside when momentum is strong, yet when selling takes over, the losses arrive with equal force.

Nigeria’s business climate gathered more momentum in October 2025, with the Business Confidence Index rising to 111.3 points from 107.9 in September, according to the latest NESG–Stanbic IBTC Business Confidence Monitor.

The new reading marks one of the strongest sentiment levels recorded this year and reinforces a growing sense of optimism across the private sector.

The BCM report shows that businesses are increasingly upbeat about current conditions, encouraged by easing inflation, a steadier exchange rate, and an improvement in overall macroeconomic stability. The upward movement also tracks a major year-on-year rebound from the 76.8 points recorded in October 2024, a period when operators were far more cautious about economic prospects.

The monitor noted that the domestic business environment “maintained its positive trajectory,” with the Current Business Performance Index holding firm in expansion territory. The warmth in sentiment reflects perceptions that the economy is adjusting to earlier shocks more effectively, allowing firms to plan with fewer disruptions.

A detailed sector review shows that all five major economic segments—Manufacturing, Trade, Agriculture, Services, and Non-Manufacturing—recorded expansion in October. Manufacturing and Trade delivered the most notable gains, rising by 8.8 points and 7.8 points respectively, to reach 111.3 and 115.4. Non-Manufacturing closed at 115.0, while Agriculture and Services posted 111.4 and 111.0.

Agriculture maintained its forward push, climbing from 107.3 points in September to 111.4 in October. Crop Production and Agro-Allied operations were the main drivers. Improved seed varieties, targeted government input programmes, and the softer inflation profile helped boost confidence among farmers and processors. Exchange-rate stability also eased pressure on operators who rely on imported inputs. Livestock and Forestry registered gains, though at a slower pace than the previous month.

Even with the improvement, Agriculture still faces barriers. Shortages of raw materials, recurring outbreaks of livestock diseases, and higher feed and input costs continue to squeeze producers. These pressures raise production costs and filter into market prices, limiting how far operators can push output without eroding margins.

Manufacturing posted one of its strongest recoveries this year. The sector’s index jumped to 111.3 points from 102.5 in September. Key segments such as Food, Beverage, and Tobacco, as well as Cement, recovered after slipping in the previous month. Businesses attributed the rebound to a more reliable power supply, improved access to finance, and better navigation of policy and regulatory hurdles.

Firms also reported that a more stable foreign exchange market helped them stabilize import planning and reduce the unpredictability that had weighed heavily on operations earlier in the year.

The Services sector maintained its modest growth path, rising to 111.0 points from 108.5 in September. The gains were backed by improvements across different service activities and a macroeconomic backdrop shaped by lower inflation and reduced currency volatility. However, Professional, Scientific and Technical Services, along with Other Services, recorded slower growth. The BCM noted that this exposes the fragility still lingering within the broader services industry, which remains sensitive to shifts in financing conditions and consumer spending power.

The report urged authorities to pursue economic reforms with greater urgency. It pointed to the need for infrastructure upgrades, security improvements, and expanded access to credit, warning that sustained momentum would require clearer policy coordination and firmer support for productive sectors.

The higher BCM reading carries broader implications. It shows that private-sector operators are beginning to rebuild confidence after years of unpredictable macroeconomic swings. The renewed optimism is tied to the pockets of stability that have emerged in recent months, from cooling inflation to a more predictable FX market. With all major sectors staying firmly in expansion mode, the recovery appears more evenly spread instead of being driven by isolated industries. Analysts often see broad-based expansion as a sign that underlying economic conditions are strengthening rather than masking weaknesses.

The BCM aligns with other indicators pointing to improved activity. For instance, the Composite Purchasing Managers’ Index rose to 56.4 in November from 55.4 in October, marking a stronger and more widespread increase in private-sector output. That rise reinforced the sense that the economy is gaining sturdier ground as the year progresses.

October’s BCM reading places Nigeria on a firmer footing heading into the final months of 2025. The challenge now lies in maintaining this momentum and ensuring that policy direction continues to support the conditions that have allowed confidence to rise across the country’s biggest economic sectors.