XRP Tops Wall Street Awareness After Bitcoin, Canary CEO

Canary Capital CEO Steven McClurg has argued that XRP is the best-known crypto on Wall Street after Bitcoin, laying out a bullish case for demand in any forthcoming XRP ETFs. Speaking in an interview with Paul Barron, McClurg said XRP’s name recognition among finance professionals likely exceeds that of Ethereum, which he placed third despite being the second-largest altcoin by market cap.

“XRP is the best-known crypto on Wall Street after Bitcoin.”

— Steven McClurg, Canary Capital CEO

McClurg forecasted that XRP-focused ETFs could attract significant inflows on launch, predicting as much as $5 billion in the first month and suggesting these funds might outperform competing Ethereum ETFs. He tempered the projection by noting that macroeconomic conditions and broader market sentiment will influence actual flows.

On policy, McClurg expressed the view that the Federal Reserve should have cut rates earlier and said he expects a rate cut at the September FOMC meeting—an event that could shape investor appetite for crypto ETFs.

Canary Capital is among the asset managers that have filed with the SEC to offer an XRP ETF and recently submitted an amended S-1 for its fund. Regulators have pushed the decision timeline: the SEC delayed its review and set an October 23 deadline to approve or disapprove the proposed rule change to list and trade the shares.

• Recognition ranking: Bitcoin first, XRP second on Wall Street awareness, Ethereum third.
• Estimated initial inflows: Up to $5 billion in month one (subject to market and macro conditions).
• Regulatory status: Amended S-1 filed by Canary Capital; SEC decision deadline set for October 23.
• Policy backdrop: McClurg expects a September FOMC rate cut; macro risks could alter ETF flows.

Market observers outside Canary share the belief that XRP ETFs will see strong demand once trading begins, reinforcing expectations of high initial inflows. With regulatory timing still in play and macro risks on the horizon, the coming weeks will be critical as the industry watches SEC actions, ETF approvals, and any interest-rate shifts that could reshape capital flows into crypto, DeFi and blockchain investment products.