Who Would Get More Inflows if ETFs Listed Together? Bitwise CIO and Bloomberg Analyst Reveal

Bloomberg ETF analyst James Seyffart and the Bitwise CIO Matt Hougan have projected which could get more flows of XRP and Solana ETFs launched on the same day.

They discussed this in a recent interview hosted by Kyle Chasse. Specifically, Chasse shared how his views on XRP changed after moving back to the U.S. three months ago. He noticed that people who are just starting to explore crypto, or those who don’t understand it much at all, seem especially drawn to XRP. 

If XRP and Solana ETFs Launch Together, Which Will Get More Flows?

Chasse also shared stories from New York, where he casually asked business owners if they held crypto. Many mentioned Dogecoin, Shiba Inu, and XRP; essentially, tokens with strong name recognition among everyday users. 

However, when XRP-based versions finally came to market, they pulled in more assets and trading volume. Seyffart clarified that spot ETFs typically attract stronger interest from investors. Citing this, he suggested XRP could get more flows initially, but Solana may catch up and overtake it over time.

🚨 WALL STREET IS MOVING AND CRYPTO IS IN THE CROSSHAIRS

$12B in crypto ETFs.
ETH demand outpacing supply 32 to 1.
Top advisors now recommending up to 40% crypto in portfolios.

This isn’t retail.
This is retirement fund money entering the game.

Featuring:
– Bitwise CIO… pic.twitter.com/zt848ulQZ7

— Kyle Chassé / DD🐸 (@kyle_chasse) July 24, 2025

He credited XRP’s momentum to its widespread appeal on social media and among retail users. “Anyone I know who doesn’t really know this space at all, like couldn’t tell you how a blockchain works, they like XRP,” he said. 

Further, Seyffart explained that platforms like TikTok and Reddit often push XRP and Ripple to the front of crypto conversations. Notably, this kind of visibility gives XRP an edge when it comes to building a strong following. 

However, he noted that institutions lean more toward Solana and Ethereum. While he admitted that some serious firms also do look into Ripple and XRP, Seyffart said that professionals with more research capacity tend to show more interest in Solana.

Bitwise CIO Agrees

Hougan agreed with that take. He said XRP’s community would likely show up in full force at launch and help the ETF get off to a fast start. “There is an army of people who are really passionate about XRP, and I think it would do exceptionally well out of the gate,” he explained. 

Hougan said that broad market approval doesn’t matter much on day one of a fund’s launch. Instead, passion drives initial flows. “It doesn’t matter that 90% of people hate it. What matters is 10% of people love it. That’s what drives the flows on those initial days.”

Nonetheless, Hougan argued that Solana might take the lead over time, depending on the market’s mood. If Solana enters a strong bullish phase at launch, its ETF could attract more inflows. But in a neutral scenario, Hougan expects XRP to dominate the early weeks or months.

How Does Bloomberg Calculate Its ETF Approval Odds?

Meanwhile, in another segment, Chasse asked about the approval odds that analysts like Seyffart and Eric Balchunas assign to different ETF applications. Right now, both XRP and Solana have a 95% chance of getting approved, the highest rating Bloomberg Intelligence has given to any crypto ETF in the pipeline.

Responding, Seyffart explained that he and Balchunas don’t use strict formulas to arrive at these numbers. Instead, they debate the factors, draw on experience, and settle on odds they both consider reasonable. 

“This is very much a qualitative and subjective analysis of odds,” he said. “There’s not a lot of quantitative analysis that’s going into, like, what are the odds this thing is going to get into an ETF in 2025.”

He listed several factors they consider when making those calls. One of the most important is whether the asset has a regulated futures market under the CFTC. This was the case with Bitcoin and Ethereum, and Seyffart said the SEC had little choice but to approve spot ETFs after allowing futures-based ones. 

Notably, XRP already has futures trading, which boosts its chances. For other tokens, like SUI, Seyffart noted that he had doubts due to issues like concentrated ownership and smaller market caps.

He also expects the SEC to create general rules for which assets can be listed in spot ETFs. Issuers like Bitwise will likely negotiate with regulators to help shape those standards over the coming months. While final approval might stretch into 2026, Seyffart believes most of the major filings already meet the expected criteria.