Yeliz Akmaca 
Canary Capital CEO Steven McClurg shared a striking statement about the future of digital assets. According to him, after Bitcoin, the most recognized cryptocurrency on Wall Street is XRP. This strong reputation could fuel massive demand once spot XRP ETFs launch.
In an interview with Paul Barron, McClurg emphasized that XRP enjoys wide recognition among financial circles. He noted that although Ethereum ranks second by market capitalization, it does not surpass XRP in visibility among Wall Street institutions.
Huge Demand Expected for XRP ETFs
The Canary CEO predicted that XRP ETFs could attract up to $5 billion in inflows during their first month of trading. He added that this surge could allow XRP funds to outperform Ethereum-based products.
However, McClurg also pointed out that macroeconomic factors will directly shape the outcome. He argued that the Federal Reserve should have already lowered interest rates. Furthermore, he expects the FOMC meeting in September to finally deliver a rate cut, which may boost overall crypto market momentum.
Meanwhile, Canary Capital is among the asset managers that have applied for an XRP ETF with the SEC. The firm recently submitted an amended S-1 form, while the regulator postponed its decision to October 23. On that date, the SEC must either approve or deny the proposed rule change that would allow the fund’s shares to list and trade.
New Crypto ETFs on the Horizon
McClurg noted that not only XRP but also Solana, Litecoin, and Hedera ETFs could launch later this year. He clarified that final approval depends on the SEC, yet Coinbase’s existing XRP futures offering strengthens the case for approval.
CME also lists regulated XRP futures, a key factor that previously paved the way for Bitcoin and Ethereum ETF approvals.
On the other hand, McClurg admitted that some crypto funds may not receive clearance until next year. Canary Capital has filed for multiple products, including ETFs tied to PENGU, TRX, INJ, AXL, SUI, SEI, and Trump coin. The company also submitted a proposal for an “American-Made Crypto ETF,” designed to track U.S.-linked tokens.
In the end, McClurg reaffirmed his belief that XRP ETFs could launch this year. If so, the asset would further strengthen its position as Wall Street’s most recognized cryptocurrency after Bitcoin.
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