XRP ETF Primed to Outperform Ethereum and Solana ETFs—Canary Capital Bets Big

Move over, ETH and SOL—XRP might just steal the ETF spotlight.

Canary Capital’s latest analysis suggests Ripple’s token could eclipse its rivals in the coming ETF race. While Ethereum and Solana ETFs have dominated headlines, XRP’s regulatory clarity and institutional backing give it a surprising edge.

Here’s why the underdog could win.

Regulatory tailwinds: XRP’s legal battles are (mostly) behind it, while ETH and SOL still dance with the SEC. Liquidity play: Ripple’s deep banking partnerships mean instant infrastructure—no ‘wait-and-see’ like other crypto ETFs. Institutional FOMO: TradFi loves a settled lawsuit almost as much as it loves excessive fees.

The kicker? Wall Street might finally get the ‘safe’ crypto bet it’s been pretending to want. Just don’t expect them to admit they’re chasing retail’s coattails.

Ripple’s Infrastructure Offers a Competitive Edge

According to McLurg, Ripple’s network, built for fast, real-time settlement, gives XRP a unique advantage over other blockchain assets. Unlike Ethereum or Solana, which have broader smart contract ecosystems, XRP is purpose-built for cross-border payments, allowing financial institutions to settle transactions within seconds and at a fraction of the cost.

“There’s now a clear court precedent that XRP isn’t a security,” McLurg said, referencing the landmark 2023 ruling that XRP sales on public exchanges do not constitute securities transactions. “It can easily MOVE into a 33 Act fund. Out of all pending products, I think the XRP ETF will gain the most traction.”

This legal clarity allows XRP to be positioned more easily within regulated investment structures, boosting its chances of widespread adoption in the traditional finance sector.

ISO 20022 Integration Adds Further Momentum

Another significant catalyst for the XRP ETF is the recent integration of ISO 20022 by Fedwire, the U.S. Federal Reserve’s high-value payment system. On July 14, Fedwire formally adopted the ISO 20022 standard, allowing for same-day settlement of trillions of dollars in transactions, including those related to Treasury securities and central bank reserves.

XRP is one of the few digital assets designed to be compatible with ISO 20022, making it a logical fit for large-scale, real-time financial applications. Analysts believe this development could increase institutional demand for XRP, especially through regulated investment vehicles like ETFs.

Paul Barron noted in his coverage that ETH and SOL ETFs lack the same degree of real-world transactional utility, further supporting McLurg’s thesis that XRP’s infrastructure makes it the superior candidate for institutional adoption.

SEC ETF Approval Delays Continue, but Optimism Grows

Despite strong fundamentals and growing support from the investment community, the XRP ETF approval process remains in flux. The U.S. Securities and Exchange Commission (SEC) has yet to greenlight several XRP ETF applications, causing delays in product rollout.

In June 2025, the SEC postponed its decision on Franklin Templeton’s XRP and solana ETF filings, citing the need for further examination on compliance, market structure, and investor protection.

Still, some analysts are highly optimistic. Bloomberg’s James Seyffart and Eric Balchunas recently gave the XRP ETF a 95% chance of approval in 2025, putting it on par with other high-probability ETF candidates like Solana, Litecoin, and Cardano.

ProShares and Teucrium Lead the XRP ETF Push

While some applications await SEC decisions, other XRP ETF products are already gaining traction. ProShares, one of the earliest ETF providers in the crypto space, has filed for an XRP ETF with an effective date of July 18, 2025, under Rule 485(b)(1)(iii). This move signals growing institutional confidence in XRP-based financial products.

Meanwhile, Teucrium’s double-leveraged XRP ETF (XXRP) has seen a spike in trading activity. Daily volume for the ETF recently soared to $120 million, more than four times its average turnover. This surge suggests that demand for XRP-based ETFs is building rapidly, even before formal approvals are granted across the board.

XRP Price Climbs Above $3 Amid ETF Buzz

Investor Optimism has spilled over into the market, with XRP’s price climbing above $3 during a strong trading week. The rally reflects increased confidence in both XRP’s fundamentals and the likelihood of ETF approvals. Traders view this price movement as a sign of positive sentiment surrounding XRP’s long-term prospects.

The XRP ETF narrative, combined with broader macro trends and Ripple’s expanding role in financial infrastructure, appears to be generating renewed institutional interest in the asset.

Conclusion: XRP ETF Could Lead the Next Wave of Crypto Investment

With strong infrastructure, legal clarity, and compatibility with global financial standards like ISO 20022, XRP is emerging as a serious contender in the ETF space. Canary Capital CEO Steven McLurg’s forecast that the XRP ETF will outperform both ETH and SOL ETFs highlights a growing belief in XRP’s unique role within the evolving digital asset ecosystem.

As regulators inch closer to final decisions, and as more firms like ProShares and Teucrium roll out XRP-based products, all eyes remain on whether XRP will lead the next wave of institutional crypto adoption.