Grayscale, CoinShares, and Bitwise have filed applications for XRP Exchange-Traded Funds (ETFs), signaling growing institutional interest in the cryptocurrency. Ryan Rasmussen, Head of Research at Bitwise, cites XRP's strong brand recognition, decade-long history, and effective institutional marketing as key factors driving this interest. Recent partnerships between Ripple (XRP's creator) and institutions like SBI Shinsei Bank further solidify XRP's position in the institutional landscape. The potential for an XRP ETF launch could propel its price, mirroring the success of Bitcoin and Ethereum ETFs.
Ryan Rasmussen, Head of Research at Bitwise, acknowledged a growing interest among institutional investors in XRP .“ XRP has strong brand recognition. It has been around for a decade and survived multiple boom/bust cycles. It has also done a good job marketing to institutions.”
AMBCrypto noted that with interest in the altcoin and its technology gaining traction, it could stand a good chance of competing with established tokens like Bitcoin and Ethereum.Bitcoin and Ethereum remain the most institutionally adopted cryptocurrencies, thanks to the approval of spot exchange-traded funds in the U.S.
Such performance shows strong growth potential for the coin. Recently, it reached $3.40 on the 13th of January, attempting to surpass its all-time high of $3.84 set in 2018.There’s potential for an XRP ETF launch, marking a significant step toward institutional and regulated adoption of the asset. Alongside Grayscale, other institutions, including CoinShares and Bitwise, have also filed for XRP ETFs.
XRP ETF Institutional Adoption Grayscale Ripple
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