Bitwise CEO Says No $1 Billion XRP (XRP) ETF Exists Yet

The Billion-Dollar ETF Club Stays Exclusive

Bitwise CEO Hunter Horsley has confirmed what XRP (XRP) ETF watchers have long suspected: no single XRP exchange-traded fund has yet crossed the $1 billion asset threshold, and the Bitwise chief insists that is a matter of structure, not bias. The remark landed just as Bitwise's Solana Staking ETF (BSOL) officially surpassed $1 billion in assets under management on Aug. 28, becoming the first Solana ETF to reach the milestone roughly ten months after launch. Capital has poured into BSOL largely because of its built-in annual yield of about 5.8%, generated through staking directly inside the regulated wrapper. Commenting on the achievement, Horsley noted that only Bitcoin, Ethereum and Solana ETFs have crossed the $1 billion mark so far — and when a commenter suggested the statistic looked biased against XRP, he responded bluntly: “I'm not! There's no $1B XRP ETF yet!” in a post on X. The statement drew immediate attention because the broader XRP ETF sector is anything but small. Aggregate market data shows U.S. spot XRP ETFs have collectively built $1.44 billion in net assets, with cumulative net inflows reaching $1.66 billion — a capital base operating at the level of the market leaders. Bitwise's own fund anchors the segment, controlling roughly 44% of the market with $632.03 million in assets, and the latest Form 13F filings confirm U.S. institutional investors keep adding to crypto ETF positions. For investors evaluating XRP, Ripple's cross-border settlement asset, the question is no longer whether demand for the settlement asset exists, but why it has not produced a single billion-dollar product — the fund needs approximately another $368 million in net assets to get there.

post on Xhttps://x.com/HHorsley/status/2093907924926214452?s=20

Why the XRP Ledger Cannot Pay Staking Yield

The bottleneck is technological, and it sits at the protocol layer. Unlike Solana, the XRP Ledger has no native staking at all. All XRP tokens were issued upfront when the network launched, and the blockchain simply cannot mint new tokens to pay staking rewards. Where proof-of-stake chains generate issuance for validators, the XRP Ledger runs its own consensus mechanism — a federated agreement among trusted validators rather than mining, proof-of-burn or stake-weighted block production — so there is no reward stream a fund could pass on to shareholders. Solana's ETFs, by contrast, wrap that reward structure into the product itself: Bitwise's official fund page showed BSOL at a 100% staking ratio with a net staking reward rate of 5.78% as of Aug. 28. Bloomberg senior ETF analyst Eric Balchunas has noted the Solana ETF category has logged $1.7 billion in cumulative inflows with no pronounced stretch of net outflows, while XRP funds are forced to rely exclusively on pure spot demand — which historically trails staking-backed products in growth speed. The only future alternative may be the native XRPL Lending Protocol, currently undergoing a validator vote, which could eventually create a yield-generating primitive for funds to package. For now the hierarchy is clear: Bitwise's XRP ETF holds $632.03 million, followed by Franklin Templeton's XRPZ at $411.39 million and Canary's WAXRP at $234.36 million, with the remainder split among 21Shares and Grayscale products. Accumulation is real beneath the surface — Bitwise recently added $15.4 million of XRP in a continued buying streak, and whales withdrew 231 million XRP from Binance in the largest six-month outflow, positioning signals rather than trading noise. Readers tracking the market in real time can follow live spot and futures prices on Bybit.

XRP Eyes the $1.40 Breakout

Price is trading at $1.4002, up 1.13% over 24 hours, and COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $1.4066 resistance at 85/100, driven by the confluence of the Value Area High, LVN and HVN nodes and the Keltner Upper band. Immediate support sits at $1.3811, scored 77/100 from EMA 20, EMA 200, SMA 200 and Fibo 0.500 confluence. Positioning across perpetuals and crypto options leans long: funding at +0.0070%, open interest near $979 million and a long/short account ratio of 2.77, against a Fear & Greed reading of 69 (Greed). RSI at 65.68 with a bullish MACD keeps the uptrend intact. A close above $1.4066 opens $1.5472 (73/100); losing $1.3811 would expose the stronger $1.2681 floor (80/100) and invalidate the bullish structure — the scenario EGRAG CRYPTO's 66.7% September extension call hinges on as the broader altcoin market tracks Bitcoin's 68.9% share of COINOTAG's tracked universe. Follow our full XRP topic hub for updates.