Wall Street Insider: Ripple ETFs Will Outperform Ethereum
- Seven asset managers have applied for a Ripple Spot ETF in the US. Canary Capital is also involved, with CEO Steven McClurg emphasizing the growing popularity of XRP on Wall Street in a new interview.
- He believes that the Ripple ETF could even exceed Ethereum's net inflows “in purely financial terms” and collect more than $5 billion in the first few months of trading.
- McClurg cites a clear reason for this: “After Bitcoin, XRP is probably the most well-known cryptocurrency on Wall Street.” Ethereum comes in third, even though ETH's total market capitalization is more than three times as large.
- At the time of writing, the Ripple coin is trading at $2.79, representing a 1.9 percent increase over the previous day. However, on a weekly basis, the XRP price is facing a 5.5 percent decline.
- Dom and Phil Kwok, founders of the Web3 app Easy App, were even more optimistic than the Canary CEO. They believe Ripple index funds could be even more successful than Bitcoin ETFs because of a “huge holder base.”
- There has been no official decision from the U.S. Securities and Exchange Commission (SEC) on the pending Ripple ETF applications yet. According to the central crypto betting platform Polymarket, the probability of approval in 2025 is 87 percent.
- Not all crypto experts are so optimistic about XRP's future. Analyst Adriano Feria recently stated that “Ripple ETFs will most likely mark the beginning of the end for XRP.”
- In his opinion, there is “no significant institutional interest” in the third-largest cryptocurrency. Read this article to find out why some Ripple expectations are exaggerated, even in the event of an ETF success: “Can the XRP price rise to $1,000?”
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Sources
- Interview with Steven McClurg
