CryptoNow
  • Home
  • Market
  • Technology
  • Business
  • Blockchain
  • Regulation
  • Reviews
No Result
View All Result
CryptoNow
  • Home
  • Market
  • Technology
  • Business
  • Blockchain
  • Regulation
  • Reviews
No Result
View All Result
CryptoNow
No Result
View All Result

Wall Street Recognizes XRP as Top Crypto After Bitcoin, Says Canary CEO

XRP Seen as Second Only to Bitcoin Among Financial Institutions

August 31, 2025
in Coins, News
A A
Dalintis FacebookDalintisShare on Twitter

Canary Capital’s CEO, Steven McClurg, recently declared that XRP is the second most prominent cryptocurrency among Wall Street investors, trailing only Bitcoin. He suggested that this high recognition could fuel remarkable demand for XRP exchange-traded funds (ETFs) once they debut. This optimism comes as Canary Capital and other asset managers await regulatory decisions on launching spot XRP ETFs in the United States.

Why XRP is Gaining Wall Street Attention?

Steven McClurg emphasized that, after Bitcoin, XRP is the favored cryptocurrency among finance professionals and institutions. He noted that although Ethereum holds the second largest market cap, XRP’s unique use case in facilitating cross-border payments sets it apart. This established utility offers a practical reason for its rising profile within the financial sector. Additionally, market expert Nate Geraci and other analysts agree that the XRP ETF could tap into a robust wave of institutional and retail demand, further amplified by the active “XRP Army” community.

Predictions for XRP ETF Launch and Performance

McClurg was particularly bullish on the market potential of XRP ETFs. Responding to questions on whether XRP ETFs could outperform Ethereum ETFs, he forecasted as much as $5 billion in inflows during the first month of trading, outpacing the launches of both Bitcoin and Ethereum ETFs. He credited this anticipated surge to XRP’s unique standing, financial use cases, and high awareness on Wall Street. However, he also acknowledged that macroeconomic conditions, such as expected interest rate cuts by the Federal Reserve, will likely influence ETF performance at launch.

Ongoing Regulatory Developments and Other Crypto ETF Filings

Canary Capital is actively working to gain SEC approval for its XRP ETF, with recent filings and updates reflecting continued engagement with regulators. While the SEC has delayed a final decision until October, the outlook remains positive due to legal clarity provided by recent court decisions. McClurg mentioned that besides XRP, funds for Solana, Litecoin, and Hedera might also launch this year if regulators become more receptive. Canary Capital has broadened its portfolio by filing for ETFs covering additional cryptocurrencies like PENGU, TRX, INJ, AXL, SUI, SEI, Trump coin, and an “American-made” Crypto ETF that would focus on US-affiliated digital assets.

Frequently Asked Questions (FAQs)

  • What makes XRP ETFs different from Bitcoin or Ethereum ETFs?

XRP ETFs offer direct exposure to XRP, a cryptocurrency with an established use in cross-border payments, giving it practical appeal among institutions and investors.

  • When might the SEC approve the XRP ETF?

While the SEC has postponed its decision, a ruling is expected by October 2025, sparking optimism for approval this year.

  • Why do analysts believe XRP ETFs could see strong demand?

Industry experts point to XRP’s recognition on Wall Street, its financial utility, and a committed retail base as drivers that could result in higher demand and inflows compared to previous crypto ETFs.

Tags: CryptocurrencyETFMiningXRPXRP ETF

Related

Analysts Predict PENGU Surge Following Pudgy Party’s Mobile Debut

August 31, 2025

The recent launch of Pudgy Party on iOS and Android has sparked renewed optimism around the PENGU meme coin. Crypto...

Cronos Surges as Trump Media Unveils $1B Token Treasury Strategy

August 26, 2025

Trump Media Group has revealed an ambitious plan to establish a digital asset treasury company in collaboration with Crypto.com. This...

Tom Lee’s BitMine Injects $800M in ETH into Ethereum Treasury During Market Downturn

August 25, 2025

BitMine, led by Chairman Tom Lee, has significantly expanded its crypto treasury, adding over 190,000 ETH worth $873 million in...

Ripple Evolves into Comprehensive Financial Powerhouse

August 24, 2025

Ripple is drawing renewed attention for its aggressive expansion across the digital asset landscape, especially following new details revealed in...

Philippines Eyes Strategic Crypto Stockpile

August 22, 2025

Philippine lawmakers have taken a bold step toward integrating cryptocurrency into national policy by proposing a bill to establish a...

News

Coins

TikTok Refutes Claims Its Owners Bought ‘Trump Coin’

June 20, 2025
Coins

Whales Accumulate 3.3M Pi in a Day Amid Declining Daily Unlocks

August 4, 2025
Reviews

Crypto Hype: Understanding the World of Memecoins

August 9, 2025
Bitcoin / freepik
Blockchain

Bitcoin Poised for Rally as Key Bullish Indicator Reappears

August 10, 2025
Asset 1CryptoNow
Categories
  • AI
  • Blockchain
  • Business
  • Coins
  • Finance
  • Interesting
  • Market
  • Mining
  • News
  • Regulation
  • Reviews
  • Technology
Tags
AI AI Browser Altcoin Android Binance Binance Coin Bitcoin blockchain BONK BTC Chainlink ChatGPT Circle Coinbase Coindesk crypto Cryptocurrency Crypto exchange DOGE Dogecoin ETF ETH Ethereum Google Halving Hash rate Memecoin Meta Mining Mobile OpenAI pengu Pepecoin pi coin pi network RIOT Ripple Samsung SHIB Shiba Shiba Inu Solana Stablecoin technology XRP
  • Newsletter
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Market
  • Coins
  • News
  • Mining
  • Technology
  • Blockchain

CryptoNow.