XRP Breaks Into the ETF Big Leagues With Bitcoin & Ethereum—Canary Capital CEO Hails Ripple’s Trailblazing Move

Wall Street's crypto embrace gets a new player—and institutional investors are scrambling for position.

Ripple's XRP is poised to shatter the ETF duopoly

Move over, Bitcoin and Ethereum. The ETF club—long dominated by crypto's two heavyweight assets—just got a controversial new member. XRP's imminent ETF approval marks a watershed moment for the asset class, with Canary Capital's CEO declaring Ripple has 'rewritten the rulebook' for regulatory acceptance.

Behind the scenes: How a 'toxic' asset became institutional darling

Once labeled a regulatory pariah after its SEC lawsuit, XRP's rehabilitation is complete. The same banks that blacklisted Ripple in 2023 are now quietly building custody solutions—proving even in crypto, money talks louder than principles.

The cynical take: Another speculative vehicle for hedge funds to milk

Let's not kid ourselves—this isn't about democratizing finance. The XRP ETF is Wall Street's latest cash cow, with management fees poised to extract millions from retail investors chasing last cycle's gains. Welcome to 'financial innovation,' crypto-style.

The conversation around a possible XRP Exchange-Traded Fund (ETF) is taking shape once again. According to Steven McClurg, CEO of Canary Capital, XRP is in a strong position to be included in the next wave of crypto ETFs when regulators give the green light.

McClurg explained that the U.S. Securities and Exchange Commission (SEC) is currently working on guidelines to decide which cryptocurrencies can be added to ETFs. While Bitcoin and ethereum have already secured their spots, XRP is quickly becoming one of the most likely candidates for future approval.

One big reason for this prediction is the clear court ruling that XRP is not a security. This decision has removed one of the biggest obstacles standing in the way of an ETF approval. McClurg believes this will allow XRP to be smoothly added to an ETF under existing regulations.

“I firmly believe that Ripple is paving the way on a lot of other different things here. And obviously the connection with XRP, so I believe that XRP will be one of those tokens that will be in an ETF when all of this launches,” McClurg said.

When asked which crypto ETFs might attract the most investor interest after Bitcoin and Ethereum, McClurg pointed to XRP. While retail investors may continue leaning toward Solana on crypto exchanges, McClurg sees XRP as a favorite among financial institutions and advisors.

He predicts that, over time, XRP could even gather more assets under management (AUM) than Ethereum, especially because of its strong focus on financial services and payment solutions.