Bitwise CEO Drops Crucial XRP Reality Check as Solana Fund Crosses $1 Billion Threshold

The XRP ETF market is growing steadily, but it has yet to enter the "big league" of billion-dollar crypto funds. The discussion around the actual figures was triggered by a major Solana milestone: This week, Bitwise's Solana Staking ETF (BSOL) officially reached $1 billion in AUM exactly 10 months after its launch.

Capital flowed into the product largely because of its built-in annual yield of around 5.8%, generated through staking directly within the regulated ETF.

Commenting on the achievement on X, Bitwise CEO Hunter Horsley noted that only Bitcoin, Ethereum and Solana ETFs have crossed the $1 billion mark so far. When someone in the comments suggested that this statistic looked biased against XRP, Horsley responded directly: "I'm not! There's no $1B XRP ETF yet!"

Solana

Ethereum

Bitcoin

The only 3 crypto assets in the world with ETFs that have grown to $1B+ so far. https://t.co/wwslT0Ixie

Why Solana succeeded while XRP has not

This remark exposed a fundamental technological barrier for XRP. Unlike Solana, the XRP Ledger has no native staking at all. All XRP tokens were issued upfront, and the blockchain simply cannot generate new tokens to pay staking rewards.

The only future alternative for funds could be the native XRPL Lending Protocol, which is currently undergoing a validator vote. For now, however, the XRP ETF sector is forced to rely exclusively on pure spot demand.