XRP Primed to Outshine Solana with Upcoming ETF Launch
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XRP’s ETF Launch: A Game-Changer in the Crypto Market
Steven McClurg, the CEO of Canary Capital, has expressed optimism about XRP’s potential to surpass Solana in terms of exchange-traded fund (ETF) inflows and trading volume once its ETF hits the market. In a recent interview, McClurg suggested that XRP could potentially double Solana’s performance during its initial week of ETF trading. This prediction aligns with the growing confidence among cryptocurrency investors in XRP’s institutional appeal as the industry anticipates the next wave of ETF approvals.
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XRP’s Institutional Appeal: A Distinct Advantage
McClurg elaborated on XRP’s unique positioning, emphasizing its design as a financial service asset. This attribute, he argues, will provide XRP with a strategic edge when its ETF is introduced. Although XRP’s market cap is only about 50% higher than Solana’s, McClurg believes that XRP’s strong institutional presence could lead to inflows that are “100% or even 200% greater” than those of Solana.
He described XRP as an asset that predominantly attracts financial institutions and enterprise investors, as opposed to retail traders. This distinction is expected to draw deeper, long-lasting capital to its ETF. In contrast, Solana is seen as more retail-focused, primarily driven by trading activity rather than institutional interest.
To bolster his perspective, McClurg pointed to the success of the recently launched HBAR ETF, which amassed $70 million in inflows within just three days of its debut. Despite HBAR’s relatively low market cap and trading volume, it succeeded in capturing significant institutional interest. McClurg attributes this achievement to its recognition among enterprise and institutional investors, a trend he believes XRP will follow.
Solana’s ETF Triumph: A High Benchmark
While XRP’s Spot ETFs are yet to be launched, Solana has already made a notable entry into the ETF market with Spot ETFs from Bitwise and Grayscale. These Spot Solana ETFs have seen continuous inflows for 11 consecutive days, totaling $199.21 million in their first week and $136.50 million in the second.
Although these figures pale in comparison to the initial performance of Spot Bitcoin and Ethereum ETFs, they highlight the substantial demand for digital asset ETFs during a period when both Bitcoin and Ethereum ETFs are experiencing outflows. This sets a high benchmark for XRP to exceed.
Several funds are poised to launch in November 2025, following their recent listing on the DTCC platform. Canary Capital is set to debut its Spot XRP ETF on Nasdaq on November 13th, with additional launches from firms like Franklin Templeton, 21Shares, Bitwise, and CoinShares anticipated soon after. Despite the DTCC listings confirming the operational infrastructure is ready, these ETFs await final SEC approval, which is currently delayed due to the ongoing government shutdown.
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