In a wide-ranging conversation with Paul Barron, Canary Capital CEO Steven McClurg laid out a blunt, three-pronged case for why spot XRP ETFs could debut with stronger demand than their Ethereum counterparts—and keep it. His core argument rests on the absence of staking yield cannibalizing ETF demand, XRP’s category leadership in traditional financial rails, and what he describes as unusually deep community and institutional interest ready to convert into flows the moment approvals land.

Why XRP Could Beat ETH From The Start

McClurg’s first point is mechanical and immediate: Ethereum’s native yield is a headwind for its ETFs; XRP has no such drag. “If you’re actually a bit more cryptonative, you’re not going to buy an ETH ETF because you can … get a 2 to 3% yield,” he said, noting that

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