XRP Dominates High-Roller Discussions: Bitwise Reports Crypto is Top Pick for Wealth Managers
XRP is gaining significant institutional interest, evidenced by its popularity among wealth managers and substantial inflows into U.S. spot XRP ETFs. Despite many wealth managers remaining on the sidelines, future allocation plans and holdings by firms like Goldman Sachs highlight sustained professional appeal for the cryptocurrency.
XRP has emerged as the cryptocurrency generating the most interest among wealth managers, according to Ryan Rasmussen, a research analyst at Bitwise. During a presentation to approximately 400 wealth managers, where topics like Bitcoin, Solana, Hyperliquid, stablecoins, and tokenization were discussed, XRP reportedly attracted the highest number of questions from the audience, signaling its potential for significant institutional appeal. Rasmussen noted on X, "XRP was the most asked about throughout the presentation. A lot of interest."
This heightened curiosity aligns with growing institutional exposure to XRP investment products. U.S. spot XRP exchange-traded funds (ETFs) experienced a notable streak of 11 consecutive sessions of net inflows, accumulating roughly $170 million during this period. Since their launch in November, these ETFs have brought in approximately $1.68 billion in total, as per SoSoValue data. However, this inflow streak was recently broken with U.S. spot XRP ETFs recording net outflows of about $7.2 million on September 2. Bitcoin and Ether ETFs also saw outflows, amounting to approximately $14.3 million and $47.6 million, respectively, on the same day.
Despite recent fluctuations, professional interest in XRP funds continues to grow, as evidenced by recent institutional filings. Major financial firms have disclosed significant exposure, with Goldman Sachs leading as the largest disclosed institutional holder at the end of the second quarter, reporting around $87.4 million in XRP exposure. Following Goldman Sachs are Jane Street with $16.6 million and Millennium Management with $16.2 million, according to Bloomberg Intelligence data.
While sustained interest is evident, most wealth managers appear to be cautiously observing the market for now. Rasmussen's presentation revealed that 67% of the roughly 400 participants had not yet allocated to cryptocurrencies. Nevertheless, a substantial 60% of these wealth managers anticipated crypto prices to be higher by the end of the year, and another 60% indicated plans to allocate to the asset class within the next year. The combination of sustained inflows into XRP products and significant disclosed positions by major financial institutions underscores a clear and growing professional interest in XRP.