TLDR XRP ETFs are gaining momentum due to the strong support of a dedicated and loyal community. Bitwise CIO Matt Hougan emphasizes that community passion, not just market price, drives the demand for XRP ETFs. New investors tend to focus on broad exposure rather than deep technical understanding, boosting index-based products. Bitwise plans to launch its own XRP ETF on November 20, following other major launches in the market. Despite market fluctuations, XRP ETFs remain popular due to the confidence and commitment of XRP holders. š„ Find the Next KnockoutStock! Get live prices, charts, and KO Scores from KnockoutStocks. com, the data-driven platform ranking every stock by quality and breakout potential. XRPās spot ETF products have gained traction, raising a key question: did institutional demand fuel these offerings, or was it the passionate XRP community? Matt Hougan, Chief Investment Officer at Bitwise, shared insights on the growing demand for crypto ETFs and the role of community in these decisions. He pointed out that the loyalty and activity of XRP holders have played a crucial role in the marketās response to the launch of XRP ETFs. Hougan Highlights Community Support Behind XRP ETFs Matt Hougan highlighted that, for many new investors, understanding the technical differences between cryptocurrencies like XRP and others isnāt a priority. Instead, investors tend to focus on broad market exposure, making index-based products a key focus. Hougan emphasized that the future of single-asset ETFs will likely focus on assets with dedicated communities, even if the broader market has doubts. Hougan shared that Bitwiseās strategy for launching single-coin funds relies heavily on community backing. He remarked that the enthusiasm and commitment of the XRP community are major factors in the success of XRP ETFs, despite potential skepticism from outsiders. āThe core holders of XRP are deeply invested and confident, which drives demand for ETF products,ā Hougan said. XRP Community Drives Continued ETF Demand XRPās ETF debut has been strong, with multiple products now in the pipeline. Franklin Templetonās EZRP ETF is set to launch on November 18, while Bitwise plans to launch its own XRP ETF on November 20. These launches follow Canary Capitalās $250 million debut on November 13, further solidifying XRPās presence in the ETF space. Despite XRPās price fluctuations, including a decline to $2. 20 during its ETF debut, the momentum surrounding XRP ETFs has remained strong. Houganās comments underscore that the demand for XRP ETFs comes from the passionate community rather than fluctuating market conditions. This enduring interest suggests that XRP ETFs will continue to attract investor attention in the coming months.
https://coincentral.com/bitwise-cio-highlights-community-power-behind-xrp-etf-momentum/
About the Author
