Institutional interest drives XRP ETF growth
Steven McClurg, CEO of Canary Capital, recently pointed to what he calls “strong institutional demand” for XRP. His comments came in response to Ripple CEO Brad Garlinghouse, and they highlight a trend that’s been building for weeks now. McClurg mentioned his background in managing institutional money, saying that kind of demand is hard to ignore when you see it.
What’s interesting is how he connects the XRP ETF growth with Ripple’s upcoming stablecoin, RLUSD. He seems to think the two will grow together, with RLUSD potentially outperforming other stablecoins. I’m not entirely sure about that connection myself, but it’s worth noting his perspective.
XRP ETFs approach $1 billion milestone
The numbers tell a compelling story. XRP ETFs launched on November 13, and they’re already approaching $1 billion in assets under management. That’s less than four weeks of trading. For comparison, the Solana ETF started on October 28 and has reached about $890 million in total assets.
What stands out to me is that XRP ETFs haven’t had a single day of outflows since they began trading. That’s unusual, especially in the volatile crypto market. Major firms like Grayscale, Franklin Templeton, and Bitwise are involved, which probably helps with credibility.
Garlinghouse made the point that this shows two things: people want regulated ways to invest in crypto, and community support matters for new investors. I think he’s right about the first part—the regulatory clarity around XRP probably makes institutions more comfortable.
Traditional finance takes notice
There are signs that more traditional finance professionals are paying attention. Portfolio manager Michael Gayed mentioned he “might do something related to XRP,” which caught people’s attention given his track record. It’s not a commitment, but it suggests curiosity from corners of finance that previously ignored crypto.
Some in the XRP community see this as validation that the asset has proven itself. YouTuber Moon Lambo, for instance, thinks debates about XRP’s legitimacy are now irrelevant. That might be going a bit far, but the ETF numbers do suggest something has shifted.
Room for growth remains
Despite the rapid growth, Garlinghouse notes that crypto ETFs still only represent 1% to 2% of the global ETF market. That leaves a lot of potential expansion ahead. If institutions continue showing interest, this could be just the beginning of a larger trend.
The speed of XRP’s ETF growth compared to other crypto products is striking. It reached the $1 billion mark faster than almost anything since Ethereum’s ETF in 2024. Whether this pace continues is another question, but for now, the institutional interest seems real and measurable.
What happens next will depend on several factors—market conditions, regulatory developments, and whether the inflows can be sustained. But the current trajectory suggests XRP has captured attention in ways that earlier crypto assets didn’t, at least not this quickly.
