XRP's 'Mount Rushmore' Status Fuels Wall Street Interest in Canary Capital's ETF Push

Source: CoinEdition Original Title: XRP’s ‘Mount Rushmore’ Status Fuels Wall Street Interest in Canary Capital’s ETF Push Original Link: As institutional appetite for digital asset infrastructure matures, Canary Capital CEO Steven McClurg has identified XRP as a primary target for Wall Street and the global capital market.

McClurg argues that XRP’s appeal lies in its technical legibility and its proven function as a high-velocity rail for the world’s financial systems.

XRP is a “Mount Rushmore” Asset

Unlike the speculative complexity of DeFi or the niche community narratives of other altcoins, XRP offers a straightforward utility proposition that legacy finance understands: it moves value between disparate systems with minimal friction.

This “Mount Rushmore” status, a term coined by Bitwise CIO Matt Hougan, solidifies XRP’s position as a permanent, symbolic pillar of the cryptocurrency ecosystem, boasting a track record that few other digital assets can match.

According to Hougan, XRP is one of the top cryptocurrencies and maintains its position among the top echelon of digital assets, boasting a tremendous track record. He further identified two key elements that distinguish the crypto asset, including the confidence that crypto users repose in the cryptocurrency and its sustainability, considering its background and inherent features.

Suitability for Real-World Application Separates XRP from the Rest

Hougan also aligned with McClurg’s perspective on XRP’s suitability for real-world applications that users understand, particularly its stablecoin enablement, XRP’s cross-currency and liquidity capabilities, and the benefits of Ripple’s involvement in the mainstream. Hougan thinks XRP’s steady growth is a function of its appeal to almost everyone, including those who are not deeply invested in the crypto sector.

Additionally, Hougan stated that unlike other ETFs driven by individual communities, XRP’s appeal to different sectors forms the tailwind behind the rapid adoption of its ETF products. According to him, the cryptocurrency has a ready fanbase and people who are open to products within its ecosystem.

Beyond the Token: XRP as a Multi-Asset Neutral Bridge

Meanwhile, focusing on the technical aspect, Schwartz highlighted the XRP Ledger capabilities, citing its fundamental design as a multi-asset network that allows people move value between parties and systems quickly and reliably, while keeping costs and performance predictable.

For institutional allocators, this real-world application is the primary differentiator. McClurg emphasizes that while other ETFs are often driven by siloed retail communities, XRP’s growth is fueled by cross-sectoral appeal.

From tokenized financial assets to stablecoin enablement, XRP is being positioned not just as a currency, but as the foundational plumbing for a modernized global financial architecture.