The XRP Spot ETF has attracted over $1 billion in assets under management. Some institutional investors still remain skeptical and consider it a meme coin.

BlockBeats News, January 10th. Since its listing in November 2025, the XRP spot ETF has attracted over $1 billion in funds, however, some analysts predict that this wave of enthusiasm may be difficult to sustain.

Brian Huang, co-founder of the investment platform Glider, stated: "The core of investment lies in the growth potential and which builders are developing on the blockchain. When we look at the builder focus in the a16z investment landscape, XRP doesn't even make the list."

Huang's skepticism stems from the lack of XRP ecosystem builders. "Builders who create infrastructure and applications can drive ecosystem development and enhance the underlying token's value," explained Huang. "Without builders, XRP's growth will be extremely limited. Most large institutions don't even consider Ripple-associated XRP as a serious project. Institutional investors holding the majority of crypto ETFs may be unwilling to hold XRP, as they see it as a meme coin."