XRP ETF Set to Eclipse ETH and SOL based ETFs, Says Canary Capital CEO

Canary Capital CEO has forecasted that the XRP ETF could outperform both the ETH ETF and the SOL ETF products. This follows speculations of an XRP ETF being approved in the coming days.

Will XRP ETF Outperform ETH and SOL ETF?

In a recent interview shared by Paul Barron, the CEO of Canary Capital, Steven McLurg argued that an XRP ETF has unique potential to outperform rivals.

“There’s now a clear court precedent that XRP isn’t a security. It can easily move into a 33 Act fund. Out of all pending products, I think the XRP ETF will gain the most traction.”

His remarks stand out at a time when crypto investors are closely tracking developments around ETH ETF and SOL ETF proposals, both seen as key next steps after Bitcoin ETFs.

Paul Barron also highlighted during the interview the cumulative effect of Fedwire’s adoption of ISO 20022. On July 14, the Federal Reserve’s Fedwire payment network announced the formal adoption of ISO 20022, enabling same-day settlement for trillions of daily transactions, including central bank reserves and Treasury securities.

Industry watchers highlight that XRP, thanks to Ripple’s infrastructure, is one of the few assets purpose-built for real-time, cross-border settlement at scale. Neither ETH ETF nor SOL ETF filings can point to a comparable real-world payment use case, adding weight to the Canary Capital CEO’s view.

When Will SEC Approve XRP ETF?

CoinGape earlier reported that Bloomberg analysts James Seyffart and Eric Balchunas gave the XRP ETF a 95% chance of approval in 2025. These forecasts also list SOL ETF, Litecoin, and Cardano with similar odds of 90–95%. 

However, there have been delays in approving the XRP ETFs, which has led to conjecture about when a decision might be made. Earlier in June, the SEC declared that it would postpone its examination of Franklin Templeton’s SOL ETF and XRP ETF filings until the autumn of 2025. The review focuses on compliance, market protection, and structural issues. This adds to the growing list of XRP ETFs awaiting approval with the SEC.

Despite this, other filings are moving forward. Asset manager ProShares has set July 18, 2025, as the effective date for its own XRP ETF, after an amendment under Rule 485(b)(1)(iii). In addition, Teucrium’s double-leverage XRP ETF (XXRP) experienced a significant surge in demand after its launch, with daily trading volume reaching $120 million, more than four times its typical average turnover.

Adding to optimism, the XRP price has risen above $3 after a strong trading week, which has made traders optimistic. They believe this price increase shows confidence in solid market fundamentals and the possibility of an ETF approval.