XRP ETF Sees Record $1.77 Billion as Institutional Adoption Surges

Bitwise Chief Investment Officer Matt Hougan attributes the growing institutional adoption of Ripple's native token XRP to reasons unrelated to short-term price movements. The XRP ETF net assets jumped 80% in the third quarter to a record $1.77 billion as of September 25.

This significant increase highlights the interest from financial advisors, who are buying XRP for its underlying value rather than speculative gains. According to Hougan, these investors are focused on long-term potential and stability.