Sui Chung, CEO of CF Benchmarks, said the token’s long presence gives investors more confidence.
Chung told CNBC, “Many investors are taking a position in XRP because of the familiarity. It has a long track record”. He noted that investors often favor assets they recognize and trust.
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Chung also pointed to XRP’s price movement as another reason for the fund’s rise. He said:
Obviously, price performance has been pretty impressive over the past three or four years, so there are a number of reasons that it’s attracting investor dollars.
The token’s consistent performance appears to have encouraged more people to invest.
Chung added that investors are also beginning to take more interest in Solana
He noted, “The understanding that traditional investors have of Solana and the types of applications that run on Solana, the types of fees that Solana has and the daily active users makes for a pretty compelling reading”.
Meanwhile, Franklin Templeton launched its XRP ETF, known as XRPZ, on NYSE Arca. What did David Mann, head of ETF product and capital markets at Franklin Templeton, say? Read the full story.
