‘This Is Insane, I’m Super Bullish on XRP Now, More Than ETF,’ Says Top Engineer

XRP-focused software engineer Vincent Van Code says he has found new reasons to be bullish on XRP.

In a tweet, he shared fresh insights into why institutional adoption of XRP may be progressing slower than expected. This comes amid major developments in the ecosystem, such as Evernorth.

Van Code suggested that large firms face significant operational and compliance hurdles when attempting to directly hold XRP. According to him, major corporations can’t simply “set up a Ledger or Xumm wallet and drop $100 million in there.”

The analysis adds new weight to the argument surrounding the usefulness of XRP exchange-traded funds (ETFs). Many in the community already see ETFs as the next major catalyst for institutional entry into the XRP ecosystem.

Notably, seven applications for XRP ETFs are currently pending SEC decisions. However, due to the ongoing U.S. government shutdown, the filings remain on hold.

Meanwhile, announcements regarding the establishment of XRP treasuries continue to surface, with the biggest so far coming from Evernorth.

Evernorth’s Role in the Bigger Picture

Evernorth, a new venture supported by Ripple, is viewed by many as part of Ripple’s broader institutional liquidity network. The firm plans to purchase $1 billion worth of XRP to create the world’s largest institutional XRP treasury.

It will launch with over 560 million XRP after securing $1.1 billion in committed capital from participants including Ripple and SBI Holdings.

While the immediate effect of this announcement on XRP’s price has been minimal, Van Code’s comments suggest that the long-term implications could be profound. He concluded his post by expressing renewed optimism:

“This is insane. I’m super bullish now, more than ever, on ETFs and Evernorth.”

Notably, Evernorth is currently pursuing a merger set to close in Q1 2026, with XRP purchases to occur within 10 days of funding.

Ultimately, as Ripple continues to build partnerships and infrastructure through projects like Evernorth, alongside the anticipated launch of XRP ETFs, analysts believe institutions will have more accessible and compliant avenues to enter the XRP ecosystem through regulated financial products.

For the XRP Army, this signals a more mature stage of adoption where institutions can invest in XRP securely and compliantly without having to hold the token directly.