While much of the crypto industry isn’t fond of XRP, Matt Hougan is predicting a blockbuster debut for the Ripple-linked cryptocurrency.
Bitwise’s chief investment officer told DL News that an XRP exchange-traded fund will “easily become” a billion-dollar fund within its first handful of months — dramatically exceeding what sceptics expect.
“People underestimate it because the median opinion in crypto is pretty bearish on XRP,” Hougan said. “But what drives flows? A group of people that buys the asset — and the XRP Army is incredibly bullish and loves XRP.”
Right now, there are about 20 XRP ETF filings pending with the SEC. That’s trailing both Bitcoin and Solana’s 23 filings. Ethereum, meanwhile, has 16 filings pending, according to Eric Balchunas, Bloomberg Intelligence ETF expert.
Balchunas forecasts the number of crypto assets with ETFs — of which there are currently fewer than than five — to surpass 200 in the next 12 months.
Just yesterday, three more came to life, with a new Bitwise Solana ETF debuting with a bang.
Deep-pocketed investors have already been loading up on XRP. Whales have bought almost $560 million in XRP over the past week, according to Santiment. Their purchases come as three XRP ETF approval deadlines expire at the SEC.