tl;dr
Financial institutions in Europe, North America, and other regions have disclosed investments in XRP, with the Basel Committee on Banking Supervision (BCBS) engaging in supervisory activities related to virtual assets. The report gathered detailed data on banks’ crypto holdings, disclosing a total e...
Financial institutions in Europe, North America, and other regions have disclosed investments in XRP, with the Basel Committee on Banking Supervision (BCBS) engaging in supervisory activities related to virtual assets. The report gathered detailed data on banks’ crypto holdings, disclosing a total exposure of €9.4 billion. Notably, XRP ranked as the third-largest altcoin for which the 19 banks acknowledged substantial commitments, while Bitcoin and Ethereum investments were the focus for most banks. However, BCBS clarified that the findings could have potential biases and data quality issues, urging caution in their interpretation. For instance, the BCBS committee gathered detailed data on banks’ crypto holdings, including information about individual crypto assets. This information was disclosed by 19 banks, revealing that their collective crypto exposures amounted to €9.4 billion or $10.27 billion. The report pointed out that the top two assets for most banks were Bitcoin and Ethereum, with these two assets constituting 31% and 22% of the €9.4 billion, respectively. Additionally, XRP ranked as the third-largest altcoin for which the banks acknowledged substantial commitments, indicating a growing interest in this particular cryptocurrency. The report also highlighted that the findings could have potential biases and data quality issues, necessitating a cautious interpretation of the results. Overall, the report offers valuable insights into the crypto activities of financial institutions, shedding light on their investments and the potential biases and data quality issues associated with the findings. While the disclosure from the banks provides a significant overview of their crypto holdings, it is essential to approach the data with a degree of caution, considering the potential discrepancies and issues in interpretation highlighted by the BCBS.
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.