Coinbase Asset Management executive says uncertainty remains across altcoins as investors struggle to identify reliable contenders beyond Bitcoin and Ethereum
As institutional participation expands, the crypto market continues to wrestle with one key question: Which digital asset deserves attention after Bitcoin and Ethereum? According to recent comments from a leading industry executive, investor sentiment remains fragmented—with a noticeable divide emerging between Solana and XRP.
Solana Gains Attention, But the Market Hesitates on What Comes Next
Anthony Bassili, president of Coinbase Asset Management, said the market’s hierarchy remains clear at the top. “The right first portfolio is Bitcoin. The next is Bitcoin, Ethereum,” he noted during a recent industry conference.
Beyond those two, Solana is gaining traction, but still with caution. “Solana is maybe the third asset on the radar,” Bassili explained, adding that after Solana, there is a very wide gap before investor interest reaches XRP.
This gap highlights the ongoing challenge for investors trying to assess which blockchain networks demonstrate real-world adoption and sustainable utility.
XRP’s Progress Is Not Enough to Secure the No. 4 Spot—Yet
While XRP continues to show operational advances, Bassili emphasized that investors want to see stronger network activity. “You need to see them being a part of the liquidity ecosystem,” he said.
Recent developments—such as Ripple’s acquisitions of a custodian, a stablecoin infrastructure provider, and a broker-dealer—have strengthened XRP’s fundamentals. Bassili acknowledged the momentum, saying “They’re taking all the right steps.”
However, the central question remains: Does the market believe XRP is ready to become the next top-tier asset?
Notably, the newly launched Canary Capital XRP ETF recorded $58 million in first-day trading volume, marking the strongest ETF debut of 2025 across both digital-asset and traditional ETF categories—an encouraging sign for XRP supporters.
Investors Await Clear Product-Market Fit
Bassili stressed that the fourth position in the market cap hierarchy is still undecided. “We have to see the product-market fit of the next network or application that will enter that fourth position,” he said.
He also cautioned that crypto markets often misprice assets due to narrative-driven speculation. As cash flow models and real usage become more visible, valuations may shift rapidly.
The takeaway is clear: while Solana holds a tentative edge, the race for the next major crypto asset remains wide open—and investor conviction is far from settled.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.