Former BlackRock VP Says XRP ETF Volume Tops $1B, Signals Institutional Interest
John Gillen, a former BlackRock vice president, told a crypto audience that strong ETF flows contradict market fatigue, citing sustained demand for crypto exchange-traded products. Gillen highlighted robust inflows into Solana ETFs and said an XRP ETF has surpassed $1 billion in trading volume, a signal of active institutional engagement rather than abandonment. He characterised current market psychology as “capitulation from frustration” after prolonged lack of a decisive price rally, not as a structural loss of relevance for major digital assets. Gillen also warned of macro pressure that could eventually break parts of the financial system — noting risks in private credit and housing markets — but did not assign timing. For traders, the key takeaways are that ETF volume (including XRP ETFs) indicates ongoing institutional participation, which can support liquidity and act as a foundation for future moves even if price action remains muted.
Bullish
The reported $1B+ XRP ETF volume and continued inflows into related crypto ETFs point to active institutional participation, which is typically supportive for market liquidity and price discovery. Although prices have been rangebound and sentiment shows frustration, ETF volume is a direct, measurable demand signal that can precede broader price moves once selling pressure eases. Historical parallels: Bitcoin and Ethereum saw sustained ETF inflows before extended bullish phases in past cycles, where institutional demand provided a liquidity floor and helped trigger rallies when macro conditions improved. Short-term, muted price reaction may persist as retail sentiment lags; traders should watch ETF net flows, on-chain activity, and macro risk events (private credit/housing signals) for catalysts. Longer-term, persistent institutional ETF adoption of assets like XRP increases the probability of upward re-rating, making the news more bullish than neutral or bearish.