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$XRP wasthe most asked-about cryptocurrencyduring a presentation to about 400 wealth managers
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.”
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
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.
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
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.
Source: cryptonews.net