Bitwise says wealth managers are increasingly interested in XRP

XRP raised the most questions at Bitwise events, but wealth manager allocation is still in its early stages

On September 2, Bitwise research analyst Ryan Rasmussen said that in a presentation to about 400 wealth management practitioners, XRP raised more questions than any other cryptocurrency.

On-site research shows that high attention and low actual configuration coexist

This Bitwise demonstration event attracted about 400 wealth management professionals to participate. Data shows that XRP is the most frequently asked topic in the audience, showing that the market pays close attention to it. However, 67% of the participants surveyed said they have not yet allocated their client portfolios to cryptocurrency investments.

According to Rasmussen's on-site survey, 60% of respondents expect cryptocurrency prices to increase by the end of this year. Another 60% said they plan to allocate cryptocurrency assets in the next year, although these intentions may change significantly.

Rasmussen and Bitwise Chief Investment Officer Matt Hougan discussed issues such as Bitcoin, Solana, Hyperliquid, stablecoins and tokenization at the event. When asked about XRP, Rasmussen said it had "received the most attention" throughout the presentation and noted that there was "a lot of interest."

It should be noted that this statement only proves the attention of participants to XRP at this particular Bitwise event site. It does not establish that XRP is the most popular cryptocurrency in the broad wealth management industry, nor does it prove that participants intend to invest specifically in XRP.

XRP ETF Fund Flow Analysis

According to SoSoValuedata, U.S. spot XRP exchange-traded funds (ETFs) recorded net inflows over the 11 consecutive trading days ended September 1, attracting approximately $170 million in funds during the period. Since their launch in November 2025, the cumulative net inflow of these products has been approximately US$1.68 billion.

However, this inflow ended on September 2, when the relevant funds recorded a net outflow of approximately US$7.2 million. A negative flow of funds in a single day does not necessarily mean a reversal of long-term trends. Movements in daily ETF funds may stem from portfolio rebalancing, short-term trading behavior and broader market conditions.

Previous reports have pointed out that the recovery of XRP is increasingly dependent on continued ETF capital inflows and regulatory progress. At that time, cumulative inflows had exceeded the threshold set by an external bullish forecast, although the pace of new investment remained uneven.

Institutional position disclosures reflect participation rather than clear intent

According to Form 13F document data compiled by Bloomberg Intelligence, as of the end of the second quarter, Goldman Sachs was the largest disclosure institutional holder of spot XRP ETFs in the United States., with an exposure of approximately US$87.4 million to XRP ETFs. Jane Street followed closely with a position of approximately $16.6 million, while Millennium Management reported a position of approximately $16.2 million.

The Form 13F document provides a quarterly snapshot of selected securities held by large investment managers. The documents did not specify whether the positions were proprietary investments, client positions, hedging strategies or inventories that support market-making operations. In addition, these documents are lagging. The second quarter report shows positions as of June 30 and does not disclose changes since then. They demonstrate that regulated XRP products have attracted professional market participants, but they do not prove their directional view of XRP.

Allocation barriers to wealth management

Wealth managers considering entering the cryptocurrency space must evaluate volatility, custody, liquidity, applicability, and regulatory requirements. There may also be differences in approval processes between independent advisers, broker-dealers and large financial institutions.

Spot ETFs eliminate the need to directly manage wallets or private keys, but they still retain exposure to price fluctuations in the underlying cryptocurrency and can experience significant price declines.

XRP's interest may reflect developments in multiple areas, including the availability of ETFs, Ripple's corporate expansion and activity on XRP Ledger. In recent related reports, crypto.news pointed out that despite weakening XRP prices, Ripple's regulated financial business continues to expand.

The next measurable development will be whether the above allocation plan can translate into sustained capital inflows. Future 13F filings will also show whether large regulators increased, decreased or exited their XRP ETF positions in the third quarter.

For now, Bitwise's activity reflects curiosity rather than confirmed need. Although XRP dominated the audience's questions, most participants had not yet made any cryptocurrency configuration decisions.