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Optimism is running high among supporters of XRP as Canary Capital CEO Steve McClurg claimed that the long-awaited XRP spot ETFs could see inflows of $5 billion in their first month.
His comments, shared during a Friday interview, highlighted his belief that the funds would even outperform Ethereum ETFs, which have so far struggled to attract money from institutional investors.
Bitcoin’s debut in the ETF market brought in $1.5 billion in net inflows in January 2024, according to Sosovaliue data. By February 12, just one month later, the total had climbed to $3.30 billion.
Ethereum’s numbers, however, told a different story. Reports disclosed that the Ethereum spot ETFs recorded an outflow of $480 million in July 2024 and then lost another $5.60 million one month later.
A big reason was tied to money leaving the Grayscale Ethereum Trust (ETHE). Against this backdrop, McClurg argued that XRP’s position in the market gives it a stronger chance at instant success.
He pointed out that after Bitcoin, XRP remains the most recognized token among Wall Street investors. According to him, this recognition, along with demand from its loyal community often called the “XRP Army,” will fuel immediate ETF adoption.
Reports have shown increasing confidence that an XRP ETF will be approved this year. Analysts said odds for a launch in 2025 rose from 80% to 85%, a minor shift but still an upward one.
McClurg agreed with this sentiment and mentioned that other cryptocurrencies such as Solana, Litecoin, and HBAR may also get ETF approval before the year ends. He added that XRP futures already being available adds weight to its chances of moving forward.
According to McClurg, XRP has an advantage over Ethereum from a pure financial services standpoint. Unlike Ethereum, which is built largely around smart contracts and decentralized apps, XRP is tied directly to payments and cross-border settlements.
That use case, he suggested, makes it easier for Wall Street’s major players to understand and support, especially through regulated investment vehicles.
