Seven asset managers have applied for a Ripple Spot ETF in the USA. The team of Canary Capital, whose CEO Steven McClurg emphasizes the growing popularity of XRP on Wall Street in a new interview.
According to his conviction, the Ripple ETF could even outbid the Ethereum net inflows “purely financial” and collect more than 5 billion dollars in the first months of trading.
McClurg gives a clear reason for this: “After Bitcoin, XRP is probably the most famous cryptocurrency on Wall Street.” Ethereum would only come in third place, even though the total ETH market capitalisation is more than three times as large.
At the moment of the letter, the ripple coin is about 2.79 US dollars, which represents an increase of 1.9 percent compared to the previous day. At week’s view, however, the XRP course is confronted with a 5.5 percent setback.
The founders of the Web3 app Easy App Dom and Phil Kwok were even more optimistic than the Canary CEO. In their opinion, the Ripple index funds could become even more successful than the Bitcoin ETFs, because there is a “huge holder base”.
So far, there is no official decision by the US Securities and Exchange Commission (SEC) on the outstanding Ripple ETF applications. According to the central crypto competition platform Polymarket, the probability of approval in 2025 is 87 percent.
Not all crypto experts are so optimistic about the XRP future. Analyst Adriano Feria recently explained that the “ripple ETFs will most likely mark the beginning of the end for XRP.”
In his estimation, there is “no significant institutional interest” for the third largest cryptocurrency.