- Bitwise Asset Management has spotlighted XRP as one of the cleanest plays in the growing real-world asset tokenization sector.
- XRP Ledger’s tokenization tools, interoperability enhancements, and compliance design provide a robust playground for financial institutions.
In his recent CIO memo, Bitwise’s Matt Hougan offered a candid and forward-looking take on where crypto is heading and why tokenization is the path forward. They emphasized that tokenization, the process of putting traditional assets like stocks, bonds, and real estate onto blockchains, is shaping up to be crypto’s most scalable and tangible real-world use case.
“The cleanest way to invest in the rise of tokenization,” Hougan wrote, “is to buy a basket of the top Layer 1 blockchains and infrastructure plays: Ethereum, Solana, XRP, Chainlink, etc.” The scale of the opportunity is staggering.
Just the traditional markets for stocks and bonds total $257 trillion globally, far eclipsing the stablecoin market, which U.S. Treasury Secretary Scott Bessent recently forecasted could hit $2 trillion by 2030. Hougan put it plainly: “If Larry Fink is right, the tokenization market could grow over 4,000x in the coming years. There aren’t many markets that can say that.”
As CNF has reported before, the XRP Ledger is a powerhouse for institutions exploring real-world asset tokenization, and Bitwise is paying close attention. With built-in features like a decentralized exchange, automated market makers, and native tokenization support, XRP Ledger offers a compliance-friendly, scalable, and high-speed foundation that’s hard to ignore.
There is real-world proof for this. In Latin America, XRP Ledger is already underpinning tokenization projects worth over $200 million, while cross-border payments are being streamlined through partnerships with SBI Remit and Travelex. Ripple has also taken a step toward interoperability by integrating Wormhole.
This enables XRP to move across more than 35 blockchains, including Ethereum (ETH), Solana (SOL), and Avalanche (AVAX).
Spot ETF on the Horizon
Bitwise has clearly doubled down on its commitment to XRP, first filing a Form S-1 for a spot XRP ETF back in October 2024, and then following up with an updated Cboe BZX 19b-4 filing in early 2025. During a conference in Las Vegas this past June, CIO Matt Hougan shared that the ETF is still “on track,” citing growing signs of regulatory clarity under President Donald Trump.
The Securities and Exchange Commission (SEC) has already opened public comment periods for both Bitwise and 21Shares’ applications, with Bloomberg analysts estimating a 90% chance of approval. Adding to XRP’s institutional appeal, the SEC commissioners are set to hold a closed-door meeting to discuss whether to drop their appeal in the Ripple case. If they decide to walk away from the appeal, it could trigger a strong relief rally in XRP.
On the market front, our analysis outlines a three-tiered price projection for XRP by 2030, reflecting a range of adoption scenarios. In a bearish case, XRP could fall to around $0.13. A more realistic, mid-case scenario, assuming steady institutional integration, puts XRP near $10.
In a more optimistic scenario, if XRP manages to carve out a share of the tokenized asset and global payments markets, its price could climb as high as $20 from its current price of $2.43. That projection is rooted in the idea that even tokenizing just 1–5% of the world’s $257 trillion stock and bond markets could unlock trillions in value.
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