While much of the cryptocurrency industry remains wary of XRP, Bitwise's chief investment officer, Matt Hougan, predicts the Ripple-linked cryptocurrency will make a record run in the exchange-traded fund (ETF) space. Hougan said that an XRP ETF “could easily reach $1 billion in size within the first few months.” Hougan argued that this forecast would far exceed the expectations of those wary of XRP: “People underestimate XRP because the median opinion in the crypto world is generally negative. But it is the community that buys the asset that determines the flow of funds, and the XRP Army is extremely passionate and loves XRP.” There are currently approximately 20 XRP ETF applications pending approval with the U.S. Securities and Exchange Commission (SEC). This number is just behind Bitcoin and Solana's 23 applications. Ethereum has 16 applications, according to Bloomberg Intelligence analyst Eric Balchunas. Balchunas predicts that the number of crypto assets with ETFs will surpass 200 within the next 12 months. Just yesterday, Bitwise's new Solana ETF launched, making a strong debut. Related News: First Expert Commentary on the Fed Interest Rate Decision and Powell's Speech: Here's What You Need to Know According to on-chain analytics platform Santiment, large investors purchased approximately $560 million worth of XRP in the past week. These purchases coincide with the approaching SEC decision dates on three XRP ETF applications. According to Hougan, an ETF doesn't need the general approval of the crypto community to be successful; what matters is a base of buyers willing to invest capital. “The XRP Army has shown incredible commitment despite years of regulatory uncertainty. Funding flows will therefore be much higher than many expected. ETFs die of lack of interest; that will not be the case with XRP.” Hougan noted that many altcoins, despite being technically strong, don't have as passionate a community as XRP. Conversely, XRP stands out for its user loyalty despite criticisms of its centralization. Criticisms of XRP often focus on Ripple's control over the token supply, its centralized structure, and its corporate partnerships. However, Hougan argues that these criticisms miss the core dynamic: demand: “Institutional adoption requires clear buyer demand, not approval from the crypto-native community. Bitcoin ETFs were also initially met with considerable skepticism but attracted $107 billion in their first year.” *This is not investment advice. Continue Reading: Bitwise Investment Chief Expects a Major Record for XRP – “The XRP Army…”
