Key Points
- Bitwise CEO Hunter Horsley recently stated that XRP ETFs would be a huge product and could tap into $100 trillion in traditional finance, as there is a lot of interest in XRP.
- Bitwise spot XRP ETF has been listed on the DTCC platform, indicating imminent trading after its launch on November 13.
- According to Bitwise CEO, XRP ETF could be different from others since there is a “ton of energy and enthusiasm” around XRP.
- XRP price has skyrocketed as the US Senate reached a deal to end the shutdown, fueling faster ETF approvals.
Hunter Horsley, the CEO of Bitwise Asset Management, recently said in an exclusive interview with CoinDesk that, based on the strong global interest in XRP, an XRP exchange-traded fund (ETF) would be a big success if approved.
According to him, the XRP ETF could be different from others because of the ton of energy and enthusiasm around the fourth-largest cryptocurrency by market cap.
Horsley answered the question of whether the XRP ETF would outperform the Solana ETF by stating that he thought it would be a huge product. He mentioned that there was a ton of interest in XRP and that his colleague Matt Hogan, their CIO, liked to say that the death of an ETF was apathy, which was certainly not one of the elements of XRP.
He added that there was a lot of energy, interest, and enthusiasm, and he believed that there were over 100 trillion dollars that lived on traditional rails. He also added that XRP’s community has been one of the passionate and active communities in crypto, which is why he thinks that there will be a strong demand for an ETF that gives direct exposure to XRP.
According to him, the appeal of an XRP ETF would go beyond retail investors, and he pointed out that over $100 trillion in assets are currently held within traditional financial systems, and an ETF would allow such capital to get exposure to new digital assets. He added that he thought if they had the opportunity to have exposure to and trade XRP, it would be a very useful and high-demand product.
“We’ll Continue To Have Volatility For The Next 12 To 18 Months.” Says Hunter Horsley
When Horsley was asked about the volatility in crypto markets, he said that Bitcoin is slowly maturing as more investors agree on how to value it. According to him, the growing consensus has helped narrow BTC’s price fluctuations over time. Bitwise CEO claimed that they had always wanted lower volatility to attract more investors who were scared of high volatility, but of course, a lot of people who got into crypto, especially on the ETF side, kind of liked that volatility because it was on the right side of the distribution skew.
Horsely also suggests that this volatility is due to investors still trying to understand these complex and continuously evolving assets. He also believes that investors are now being distracted by other major subjects, like AI, macroeconomics, government policy, or taking family vacations.
Horsley added that he thought there would need to be more thought development regarding Solana, XRP, and Ethereum before consensus emerged on those assets. He believed that they would continue to be volatile for some time to come.
Multiple XRP ETFs Listed on DTCC Before Its Official Launch
The latest XRP ETF updates suggest that multiple XRP ETFs are now listed on the Depository Trust and Clearing Corporation (DTCC), which is an organization that handles most stock trades in the United States. The DTCC listing indicates that the funds are ready for trading when they get final approval from the U.S. Securities and Exchange Commission (SEC). According to the latest ETF updates, at least five XRP spot ETFs have now been listed on DTCC ahead of their official release.
- Bitwise XRP ETF (XRP)
- Franklin XRP Trust (XRPZ)
- Canary XRP ETF (XRPC)
- 21Shares XRP ETF (TOXR)
- CoinShares XRP ETF (XRPL)
These are the major ETFs listed on the DTCC list, and the other names appearing on the DTCC system are Volatility Shares XRP ETF (XRPI), ETF Opportunities T-REX 2x Long XRP (XRPK), Amplify XRP 3% Monthly ETF (XRPM), ETF Opportunities T-REX Osprey XRP (XRPR), and Volatility Shares 2x XRP ETF (XRPT). Nate Geraci, president of NovaDius Wealth Management, stated that the government shutdown ending would lead to the opening of the spot crypto ETF floodgates and mentioned that, in the meantime, they could see the first ’33 Act spot XRP ETF launch that week. The U.S government reopening speculations and news have also ignited XRP’s price rally, which is currently trading at $2.47, exhibiting an 8.3% surge compared to yesterday’s price.