Following the successful launch of Litecoin and Hedera ETFs, the CEO of Canary Capital, Steven McClurg, has confirmed a firm timeline for the XRP ETF. During the Ripple Swell conference, McClurg announced next week as the launch date for the groundbreaking asset-backed ETF. His statements mark a significant turning point in the XRP market, with experts predicting substantial institutional interest and market disruption.
Speaking at the event, McClurg asserted that the release of the XRP ETF is a crucial step towards mainstream acceptance and will propel XRP to second place in prominence on Wall Street after Bitcoin.
He further added that he anticipates strong institutional investment flows of up to $5 billion within just 30 days of launch. He attributes this surge to XRP’s practical applications, robust community support, and lack of native staking requirements, a feature absent in Ethereum ETFs which have recently experienced outflows from Grayscale’s ETHE trust.
A key point highlighted by McClurg was his reference to the successful launch of Litecoin and Hedera ETFs as a blueprint for future altcoin ETF success. He emphasized that XRP ETFs are poised to become the next frontier for institutional investors.