XRP gains traction among multi-billion dollar wealth management firms – What’s driving the interest? – BitRss

• Multi-billion dollar firm adds XRP ($2.45) to portfolio with Bitcoin, Ethereum.
• Grayscale, CoinShares, and Bitwise have shown interest in an XRP exchange-traded fund. 

Ryan Rasmussen, Head of Research at Bitwise, acknowledged a growing interest among institutional investors in XRP.

He noted that a multi-billion-dollar management team added Ripple [XRP] to its portfolio, alongside assets like Bitcoin’s[BTC ($98,229.09)], Ethereum [ETH ($2,844.70)], and Solana [SOL ($202.77)].

When asked about this shift among institutions, he said,

“XRP has strong brand recognition. It has been around for a decade and survived multiple boom/bust cycles. It has also done a good job marketing to institutions.” 

Well-known institutions, including SBI Shinsei Bank, announced a partnership with Ripple—the company behind XRP—to facilitate cross-border remittances. This adds to the growing institutional adoption.

AMBCrypto noted that with interes…