The crypto market is still “very unsure” about which crypto assets to back beyond Bitcoin and Ethereum, according to an executive.
The average investor still hasn’t reached a clear consensus on which crypto assets beyond the top two warrant serious attention, according to Anthony Bassili, president of Coinbase Asset Management.
“There’s a very, very clear view in the investor community in terms of the right first portfolio is Bitcoin. The next is Bitcoin, Ethereum,” Bassili said during an interview with Cointelegraph at The Bridge conference in New York City on Wednesday.
Bassili pointed out that Solana (SOL) is “maybe” the third asset on the radar. “The market is very unsure as to what’s the next asset they want to own after that,” he said, adding that after Solana, there is a “very wide gap” with XRP (XRP).
“We have to see the product market fit of the next network or the next application that will enter that fourth position,” he added.
Bassili said that despite XRP “doing a great job at execution,” investors need to see more network velocity. “So you actually need to see them being a part of the liquidity ecosystem,” he said.
On Thursday, Canary Capital’s XRP ETF closed its first day with $58 million in trading volume, marking the most successful ETF debut of 2025 among both crypto and traditional ETFs.
Bassili pointed out the significant progress on Ripple’s side, including acquisitions of a custodian, a stablecoin orchestration layer, and a broker-dealer.
“So they’re taking all the right steps. The question is, you know, does the market think that they’re ready, you know, to be that next top four asset,” Bassili said.
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Bassili emphasized that while crypto markets often price assets based on narrative and speculation, a closer look at cash flows can quickly change the perception.
“You’ll see the market doesn’t price things really well, because it starts actually becoming more realistic,” he said.
