In a recent interview, Grayscale Managing Director and Head of Product and Research, Rayhaneh Sharif-Askary, outlined a significant shift in institutional crypto allocation, positioning XRP as a core currency asset. She described XRP as a "battle-tested blockchain asset that has stood the test of time" and placed it alongside Bitcoin in the 'currency' segment of Grayscale's investment framework, which focuses on payments and value transfer.
Sharif-Askary explained that investor behavior is evolving beyond early Bitcoin-only or Bitcoin-and-Ethereum allocations. She noted that roughly 50% of the total cryptocurrency market value now sits outside of Bitcoin, pushing institutions to seek broader portfolio balance and exposure to other assets like XRP.
A key driver of this institutional access is the emergence of XRP spot Exchange-Traded Funds (ETFs). Sharif-Askary confirmed that Grayscale launched its own XRP spot ETF, GXRP, in November 2025, which has since attracted $121 million in inflows. In total, five XRP spot ETFs from issuers including Grayscale, Canary Capital, Bitwise, Franklin, and 21Shares have recorded $1.21 billion in combined inflows and hold $1.02 billion in assets under management.
The executive highlighted that these ETFs unlock access for entirely new classes of investors who prefer regulated vehicles over direct token ownership. She stated that clearer regulatory guidance could further strengthen market sentiment for XRP, a point echoed by Grayscale Head of Research Zach Pandl, who suggested XRP could be repriced as regulatory clarity improves.
Concluding with a statement that resonated strongly with the XRP community, Sharif-Askary emphasized, "this is just the beginning," signaling expectations for continued growth in institutional participation and product adoption.
