Recent increased interest in XRP from institutional investors has become a topic of discussion in the crypto community after 11 asset managers filed for ETFs based on this cryptocurrency.
Filing for XRP ETFs
Earlier today, crypto influencer and market commentator John Squire shared data showing that 11 asset managers have filed for XRP-related ETFs with the U.S. Securities and Exchange Commission (SEC). These firms collectively manage over $240 billion in assets, which many in the crypto industry view as a significant shift in how traditional finance interacts with the XRP ecosystem.
Diversity of ETF Products and Their Significance
Among the asset managers filing were notable firms such as WisdomTree, Franklin Templeton, Grayscale, and ProShares. The largest proposed XRP ETF by assets under management (AUM) belongs to WisdomTree, at $113 billion, while ProShares has filed for four XRP ETFs totaling $70 billion. Grayscale has also submitted its XRP ETF proposal at $40 billion. This diverse set of ETF products highlights an expanding strategy aimed at different types of investors.
Community Reactions and Institutional Legitimacy
Community reactions were swift and aligned with the sentiment of institutional momentum. A user named Atom XRPL commented, "Wow 11 big money managers!! All these important people wanting in can’t be wrong!!" Another user, Melanie, noted, "XRP institutional demand is heating up, and many asset management giants are planning ETF applications. If approved, it may accelerate the mainstream process."
While regulatory approval for these ETFs remains pending, the notable activity of major asset managers in the XRP market could represent a pivotal moment for broader digital asset adoption.
