The XRP spot ETF has accumulated over $1 billion in funds, but some institutional investors remain skeptical and view it as a meme coin

Since its launch in 2025, the XRP spot ETF has attracted over $1 billion in funds; however, some analysts predict that this wave of enthusiasm may not last.

Brian Huang, co-founder of the investment platform Glider, stated, "The core of investment lies in growth potential and which builders are developing on that blockchain. When we examine the builder focus in a16z's investment landscape, XRP doesn't even make the list." Huang's skepticism stems from the lack of builders in the XRP ecosystem. "The infrastructure and applications created by builders can drive ecosystem development and enhance the value of the underlying token," Huang explained. "Without builders, XRP's growth will be extremely limited. Most large institutions do not even consider XRP, associated with Ripple, as a serious project. Institutional investors holding the majority of crypto ETFs may be reluctant to hold XRP, viewing it as a meme coin."