The post XRP Attracts Multi-Billion Dollar Wealth Management Firm’s Interest appeared on BitcoinEthereumNews.com.

XRP could soon be allocated in the clients’ portfolios of a billion-dollar wealth management firm alongside Bitcoin, Solana, Ethereum, etc, according to the Head of Research at Bitwise. XRP’s inclusion is reported to be due to its strong brand recognition and profound marketing strategies to institutional investors.  Head of Research at Bitwise, Ryan Rasmussen, has disclosed that a wealth management firm worth billions of dollars could likely allocate XRP in clients’ portfolios once the regulatory authorities give approval. While the name of the firm was not indicated, Rasmussen hinted that the firm currently has Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and others alongside XRP in its account. This disclosure attracted a wide range of interest from industry key players, including the Portfolio Manager and Head of Research at Apollo Crypto, Pratik Kala, who enquired why the firm chose to hold XRP. According to him, a conversation with several Managing Directors of big firms indicates that they did not have any valid reasons for purchasing the asset. Meanwhile, he believes they joined the bandwagon because they had “the mindshare in 2018 and held it.” Responding to this, Rasmussen highlighted that the strong brand recognition of XRP attracted the firm. According to him, the asset has been in the market for more than a decade. Within the period, it survived multiple crashes and severe headwinds. On the other hand, he believes that the XRP team “did a good job” in devising effective marketing strategies to “win over” institutional investors. Growing XRP Adoption Amongst Institutions Confirming the rising institutional interest in XRP, crypto asset management giant CoinShares recently reported that the asset is the third most sought-after crypto asset by institutions, just behind Bitcoin and Ethereum. As reviewed in our recent publication, a $530 million investment was “pumped” into crypto last week by…

---

Filed under: News - @ February 5, 2025 11:20 am