$XRP's Institutional Appeal: Long Track Record and Familiar Financial Uses

Bitwise CIO Matt Hougan explained why $XRP appeals to institutional investors, calling it one of the 'Mount Rushmore assets in crypto' due to its long track record and recognizable financial applications.

Hougan stated that financial advisors evaluating $XRP find assurance in its durability and familiar financial uses, which give people confidence it will be there in the future.

The Bitwise CIO noted that $XRP's established history with financial services like stablecoins, transfers, and liquidity, makes it easier for advisors to understand and evaluate.

Hougan also mentioned Ripple's bank charter efforts, which provide a clear path for the $XRP community.

The $XRP ETF assets retreated from September's record of $1.77 billion, despite continued inflows, with a total of $1.658 billion by October 2, and a $3.28 million outflow entirely from Bitwise.