- The CEO of Bitwise is confident in XRP’s capability to shake up the massive $250 trillion global payments market, given its broad utility, especially in cross-border payments and tokenization.
Bitwise CEO Hunter Horsley is betting big on XRP. On Wednesday, he highlighted the influx of inflows into their newly launched exchange-traded fund tracking the token.
According to Horsley, the Bitwise XRP ETF has already seen $135 million in inflows just three days after launch. With that, he thanked investors for entrusting their assets to his company.
XRP: A Disruptor in a $250T Market
The figures indicate strong investor interest in XRP as a payment-focused cryptocurrency. A post he shared also highlighted the token’s potential to capture a massive share of the $250 trillion global payments market.
Bitwise explained that it carries a certain level of intrigue for investors, making it very appealing. This stems from its long track record, strong community support, and utility.
Established Track Record
First, the company pointed out that XRP is one of the longest-running crypto assets in the world. Its history goes back to June 2012. Its 13 years of experience and consistent performance as one of the top altcoins in the market is a testament to its resilience.
Passionate Community
Second, the token has a “super passionate” community of supporters. XRPScan reveals over 7.33 million activated accounts holding XRP. Meanwhile, crypto exchange BingX noted that social activity related to the token has reached roughly 30,000 and 12.95 million interactions as XRP ETFs began trading.
Consistent Performance
Third, despite the recent drawdowns in the crypto market, XRP has maintained a market cap above $133 billion as of Thursday. This positions it fourth among the top cryptocurrencies by overall valuation, trailing only the USDT (Tether) stablecoin’s $184 billion.
Growing Adoption
Fourth, Bitwise emphasized that the XRP Ledger’s (XRPL) infrastructure has been gaining significant traction in adoption due to its efficiency in cross-border payments and tokenization. Ripple has been very busy forging partnerships with giant banking and payment institutions to accelerate its use.
Compliant Solution
Last but not least, XRP continues to operate in a crypto-forward regulatory environment. It is poised to become the backbone of the evolution of the financial system as the global payments ecosystem transitions to ISO 20022, a more efficient, unified, accessible, interoperable, and user experience-driven international messaging standard.
XRP: A Highly Resilient Digital Asset
Overall, Bitwise underscored that amid crypto’s ups and downs, XRP is a highly resilient asset and continues to play a significant role in crypto’s mainstream adoption. Furthermore, it said it’s thrilled to launch XRP and to contribute to the next step in the digital asset’s journey.
