XRP ETF Potential and Bitcoin ETFs Unprecedented Growth Highlighted in the Thinking Crypto Podcast

The Thinking Crypto Podcast recently spotlighted key developments in the cryptocurrency sector during a discussion between host Tony Edward and Matt Hogan, Chief Investment Officer at Bitwise Asset Management.

In a recent episode of The Thinking Crypto Podcast, host Tony Edward and Matt Hogan, CIO at Bitwise Asset Management, discussed key developments in the cryptocurrency sector.

Among the topics covered were XRP's ability to maintain its market presence, the increasing market share of Bitcoin ETFs, and potential projections for the broader cryptocurrency market through 2025.

XRP's enduring appeal, ETF potential

Despite the ongoing legal dispute between Ripple and the SEC, XRP continues to find its way into the market narrative. Its strong technology and community support have positioned it as one of the valuable assets in the crypto space.

Bloomberg's Eric Balchunas has also highlighted potential benefits of XRP, particularly in the context of ETFs.

Bitcoin ETFs have seen impressive adoption this year, surpassing even the early years of gold ETF adoption. Balchunas noted that the implication of this is that capital flows into Bitcoin ETFs have already come into play and could pave the way for an XRP ETF. If approved, such a product would likely bolster XRP's standing in the market, attracting institutional investors and increasing the use of the digital asset.

Hogan also mentioned that ETF inflows are expected to grow even further by 2025, and there is already strong inflow growth even in 2024. If XRP is included in the ETF space, this will benefit investors as they will have more options in terms of diversification and further enhance the coin's position in the market.

The podcast also offered some insights into the broader crypto space. Hogan expressed optimism about blockchain networks like Solana, Avalanche, and XRP in particular. Hogan sees these protocols as useful for investors and boosting demand for indexed crypto products.

Bitcoin ETFs see record growth

Bitcoin ETFs have become a leading indicator of institutional and retail participation in the cryptoasset market. As reported by CryptoQuant analyst MAC_D, physical Bitcoin ETF holdings have increased by 425,000 BTC this year, rising from 629,900 BTC on January 1 to 1,050,000 BTC.

This growth further brought the ETF ownership to 5.33% of the total mined Bitcoin, which is 19.78 million BTC.

Q1 2024 was also a critical period for Bitcoin ETFs as they saw a net inflow of $4 billion, and the trading volumes increased by three times compared to February.

MARCH MADNESS: Bitcoin ETFs traded $111b in March, which is just about triple what they did in Feb and Jan. I added the months where only GBTC was on market for further context. I can't imagine April will be bigger but who knows.. pic.twitter.com/AJEE0mPmpW

— Eric Balchunas (@EricBalchunas) April 2, 2024

The BlackRock iShares Bitcoin Trust (IBIT) remains the largest Bitcoin ETF in the United States, with over $40 billion in assets under management. The latest trends show both growth and some unevenness, with $2.4bn net inflows seen in early November and outflows of $770m.

Notably, the ETFs were instrumental in driving Bitcoin to its all-time highs and new record peaks, touching $92,000 during the period.

Regulatory clarity remains a key factor shaping the market. A crypto-friendly framework under a Trump administration could see pending regulatory cases resolved and additional altcoin ETFs approved.