صندوق ETF الفوري لـ XRP يجذب 1 مليار دولار: هل يمكن لمُعِدي البيئة أن يدعم النمو في غيابهم؟

【Coin Realm】Since its launch in November 2025, the XRP spot ETF has seen inflows exceeding $1 billion. However, some market participants remain skeptical about whether this momentum can be sustained.

Brian Huang, co-founder of investment platform Glider, raised a pointed question: “What truly determines a project’s prospects is still growth potential and how many builders in the ecosystem are seriously developing. When I look at the developers highlighted in a16z’s portfolio, XRP never appears.”

Huang’s concern hits the mark. He believes that infrastructure and applications are the engines driving ecosystem development and enhancing token value. “Projects without builder participation will have severely limited growth potential. Most major institutions don’t take XRP associated with Ripple seriously, and some institutional investors even conflate it with meme coins. The institutions managing mainstream crypto ETFs may be unwilling to allocate XRP positions at all.”

This commentary reflects market concerns about the current state of XRP’s ecosystem development — whether ETF inflows with high volumes can find sufficient technological innovation and application scenarios to support long-term value may be the focus worth observing going forward.