Bitwise research head says XRP bull run may still be in early phase

ETF flows expand beyond Bitcoin and Ethereum

In his commentary, Rasmussen noted that significant inflows have reached a range of crypto investment products. According to him, demand is not limited to the largest cryptocurrencies, with assets like Hyperliquid and XRP also seeing increased investment through ETFs and related financial instruments.

He described the market as being at the beginning of a new upward cycle and pointed to sustained ETF activity as an important supporting factor. In addition to Bitcoin and Ethereum, recent capital flows are benefitting several altcoins and emerging crypto projects.

Rasmussen suggested that, “We’re seeing capital deployed across the crypto stack,” emphasizing that the rise in investment is impacting a wide range of crypto assets beyond the sector’s historic leaders.

Rasmussen also addressed the influence of “short screen” dynamics—a trading phenomenon where covering of short positions fuels upward momentum. He suggested that this trading activity had supported the recent acceleration in crypto prices.

Alongside ETF inflows, Rasmussen identified the positive performance of crypto-related equities as another sign of expanding market participation and confidence.

Mini dictionary: Bitwise, a US-based asset management firm, is known for its crypto index funds and research on digital asset markets, often cited as a reference by institutional investors.

XRP positioned among assets receiving new capital

While discussing the spread of investment across the cryptocurrency market, Rasmussen specifically included XRP as one of the altcoins now attracting greater institutional interest. His comments positioned XRP as part of a cohort of assets experiencing increased demand through investment products, rather than as a singular outlier.

The inclusion of XRP in his analysis was highlighted by Digital Asset Investor as a signal for XRP holders, suggesting that participation from ETFs and similar products could support further gains. However, Rasmussen stopped short of predicting a standalone XRP rally and instead framed the asset’s outlook within the context of the entire digital asset sector.

Digital Asset Investor concluded, “The XRP bull market is just getting started,” using Rasmussen’s broader assessment of institutional inflows as a foundation for his statement.

Both commentators emphasized that, for XRP investors, the key development is the continued movement of institutional capital into a range of cryptocurrencies, with XRP among those benefitting from the trend. As ETF flows persist and interest in crypto equities grows, proponents believe XRP could see further upward momentum as part of a sector-wide bull run.