Ryan Rasmussen, the cerebrum at Bitwise Invest, has unveiled a tantalizing tidbit: a “multi-billion dollar wealth management team” is positively salivating over the prospect of sprinkling XRP into their clients’ portfolios, alongside the usual suspects like Bitcoin (BTC) and Ethereum (ETH).
Alas, these titans of finance, who in their personal coffers harbor Bitcoin, Ethereum, Solana, XRP, and a smorgasbord of others, find themselves in a curious predicament—they cannot bestow these digital treasures upon their clients. They yearn to, but the powers that be have not yet given their blessing. 🚫
“In their personal accounts, they own a veritable crypto zoo. But they can’t allocate to any of those in their client’s portfolios. They want to, but they aren’t allowed to,” he lamented.
Last year, the crypto realm witnessed a parade of institutional interest, with the SEC waving through a slew of Bitcoin and Ethereum exchange-traded funds (ETFs) like confetti. 🎉
Rasmussen observed, with a wry smile, that some compliance/due diligence teams at large wealth management firms are still dragging their feet, despite Bitcoin ETFs having taken their first steps over a year ago. 🐌
XRP, meanwhile, has been making significant strides in the institutional adoption race, with multiple US-based spot ETF applications under its belt. And, as reported by U.Today, CME Group is gearing up to launch futures contracts for the third-largest cryptocurrency—talk about a crypto carnival! 🎪
Other tokens, such as Solana (SOL) and Litecoin (LTC), are also lining up, eager to join the ETF party. 🎟️
🤑 Billionaires Eye XRP – But Can’t Touch! 🙅
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2025-02-05 00:04