Canary Capital CEO Steven McClurg has congratulated Bitwise on the launch of its XRP ETF, highlighting the ability of smaller crypto-native firms to compete with major Wall Street players. McClurg noted that launching a top 5 ETF in 2025 does not require being a giant like BlackRock, hinting at a friendly rivalry in the ETF space. The XRP community has responded positively, acknowledging Canary's early involvement and ETF launch as catalysts for institutional interest. Bitwise's entry into the XRP ETF market underscores the growing institutional adoption, with several issuers expected to follow suit by the end of the month.