XRP ETF growth strong, but Bitwise CEO says no $1 billion fund yet

The XRP spot exchange-traded fund market is expanding rapidly, but no single fund has yet surpassed $1 billion, the article said.

Blockchain media outlet U.Today reported on Aug. 30 that asset manager Bitwise's Solana staking ETF, BSOL, exceeded $1 billion in assets under management 10 months after launch, but XRP spot ETFs have not reached the same stage.

The discussion began with the pace of growth in Solana spot ETFs. BSOL attracted funds by offering about 5.8 percent a year in returns through direct staking within a regulated ETF. Bitwise CEO Hunter Horsley (헌터 호슬리) mentioned the performance on X, formerly Twitter, and said that so far only Bitcoin, Ethereum and Solana have spot crypto ETFs that exceed $1 billion.

When criticism emerged that it was biased to leave out XRP, Horsley immediately pushed back. "It's not biased. It's a fact that there is no $1 billion XRP spot ETF yet," he replied. It underscored that the assets under management of individual products matter more than the overall market size.

Structural differences help explain why XRP spot ETFs are not keeping the same pace. Unlike Solana, the XRP Ledger has no native staking function. XRP was issued in full from the beginning, meaning the blockchain itself cannot create new tokens for staking rewards. As a result, XRP spot ETFs currently rely only on spot demand.