Bitwise Invest's research head, Ryan Rasmussen, revealed that a "multibillion-dollar wealth management team" intends to allocate XRP to clients' investment portfolios, along with other crypto assets such as Bitcoin (BTC) and Ether (ETH). However, as far as individual ownership of these tokens is concerned, they cannot currently do so due to lack of approval. "In their personal accounts, they own assets such as BTC, ETH, Solana, XRP, but they cannot allocate these assets to clients' investment portfolios. They want to do so, but are not allowed to," he said. Last year, the cryptocurrency industry made significant progress in institutional adoption, with the US Securities and Exchange Commission approving a number of BTC and ETH exchange-traded funds (ETFs). Rasmussen noted that despite the BTC ETF being launched over a year ago, the ETH ETF has not yet been approved.