XRP was the most asked-about cryptocurrency during a presentation to about 400 wealth managers, according to Bitwise research analyst Ryan Rasmussen.
Rasmussen said he and Bitwise chief investment officer Matt Hougan discussed Bitcoin, Solana, Hyperliquid, stablecoins, tokenization, and other areas during the presentation. However, XRP attracted the most questions from the audience, which shows that the token might have decent institutional appeal.
“XRP was the most asked about throughout the presentation,” Rasmussen said in a post on X. “A lot of interest.”
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Growing institutional exposure
Institutional exposure to XRP investment products continues to grow. U.S. spot XRP exchange-traded funds recorded 11 consecutive sessions of net inflows through Tuesday. They brought in about $170 million during the streak and roughly $1.68 billion since their launch in November, according to SoSoValue data.
The latest session broke the streak, however. U.S. spot XRP ETFs recorded net outflows of about $7.2 million on Sept. 2. Bitcoin and Ether ETFs also saw outflows of roughly $14.3 million and $47.6 million, respectively.
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Still, there is growing professional interest in XRP funds, according to recent institutional filings. Goldman Sachs was the largest disclosed institutional holder at the end of the second quarter, with about $87.4 million in exposure. It is followed by Jane Street with $16.6 million and Millennium Management with $16.2 million, according to Bloomberg Intelligence.
Remaining on the sidelines
For now, most wealth managers seemingly remain on the sidelines. Rasmussen said 67% of the roughly 400 participants did not yet allocate to crypto.
That said, 60% expected crypto prices to be higher by the end of the year.
Another 60% said they planned to allocate to the asset class within the next year.
Inflows and disclosed positions at several major financial firms definitely show that there is sustained interest in XRP.