The famous CEO, who gave the news about Litecoin (LTC) and Hedera (HBAR) ETFs that were launched in the past weeks, now made statements about XRP ETFs.
Speaking at the ongoing Ripple Swell conference, Canary Capital CEO Steven McClurg pointed to next week for the launch of XRP ETFs.
“We are ready to launch the XRP ETF next week.”
McClurg’s statements were interpreted as a significant turning point for XRP and broader altcoin ETFs.
Steven McClurg also said that XRP will become the second most recognized cryptocurrency on Wall Street after Bitcoin.
McClurg also added that XRP ETFs could attract $5 billion in inflows from institutional investors within 30 days of their launch.
“XRP’s real-world availability and strong community support could make the XRP ETF the biggest ETF success to date.”
McClurg noted that while Ethereum ETFs have recently suffered from outflows from Grayscale’s ETHE trust, XRP doesn’t suffer the same structural disadvantages. He added that XRP doesn’t have native staking, meaning ETF investors don’t lose out on returns by holding the ETF instead of the asset.
Canary CEO Steven McClurg, in a statement regarding the Litecoin and Hedera ETFs, said, “After the Ethereum ETFs, Litecoin and Hedera will be the next altcoin ETFs. We are ready to launch tomorrow.” The ETFs began trading the next day.
*This is not investment advice.