Ripple News: Bitwise CIO Doubts XRP ETF Can Outshine Solana, But Predicts ‘Big Success’

The upcoming XRP spot ETF is emerging as one of the most anticipated launches in the crypto market this quarter. Canary Capital CEO Steven McClurg predicts that the product could potentially surpass Solana’s ETF success, doubling its impact and accumulating up to $5 billion in inflows during its first month.

McClurg, well-known for his accurate predictions about institutional crypto adoption, believes the excitement around XRP’s ETF approval could match or even rival that of Bitcoin and Ethereum funds. Canary Capital has already filed Form 8-A for its XRP spot ETF, which is scheduled to start trading on Nasdaq this Thursday, pending the exchange’s certification of the listing.

Bitwise CIO Matt Hougan has expressed optimism about the success of the XRP spot ETF, describing it as one of the most promising crypto products expected to hit the market. According to Hougan, the loyalty and enthusiasm of XRP’s investor base will play a pivotal role in its success.

Although it remains uncertain if XRP can surpass Solana’s ETF inflows, Hougan is confident that the product will garner significant investor interest upon its launch. He stressed that many analysts misunderstand how investor sentiment drives demand for crypto ETFs, highlighting the critical role of passion and engagement among the investor community.

Hougan explained that XRP’s reputation within the broader crypto community—often divisive—will not deter its success. Instead, the strength of its dedicated investor base is expected to play a more significant role in generating ETF inflows. He argued that passionate and engaged investors are far more valuable than having broad but mild support within a community.

XRP’s long-standing community, which has remained loyal despite regulatory challenges and market volatility, is ideally positioned to drive robust ETF inflows. This high conviction among XRP enthusiasts is expected to translate into substantial allocations once the product becomes available.

Hougan emphasized that estimating XRP ETF demand based on mixed sentiment from the wider crypto community misses the mark. What matters most is the presence of a large group of eager investors who want exposure to XRP through a regulated and institutionally managed vehicle.

He concluded by stating, “I think XRP will be a big success. I don’t know if it will double Solana, but it will be another big success.”