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Investor uncertainty persists beyond Bitcoin and Ethereum
Crypto investors remain divided on which tokens deserve attention after Bitcoin and Ethereum, according to Anthony Bassili, president of Coinbase Asset Management. Speaking to Cointelegraph at The Bridge conference in New York City, Bassili said the investment community has a clear consensus on the first two portfolio picks: Bitcoin and then Ethereum. Beyond that, the market is mixed.
Solana may hold the third spot, but questions remain
Bassili noted that Solana (SOL $142.77) is "maybe" the third asset on many investors' radars. While Solana has strong developer activity and a vibrant decentralized finance and NFT ecosystem, liquidity, scalability, and application-level adoption will determine whether it solidifies that position. He emphasized that after Solana, there is a "very wide gap" before the next contender, XRP (XRP $2.27).
Can XRP close the gap to reach top four?
XRP has shown operational progress. Bassili pointed to Ripple's strategic moves, such as acquiring a custodian, integrating a stablecoin orchestration layer, and bringing a broker-dealer into its ecosystem. Those steps aim to increase XRP's network utility and liquidity, two key metrics investors watch when evaluating a token for inclusion in core portfolios.
Despite these developments, Bassili advised that investors still need to see improved network velocity and clearer participation of XRP in the broader liquidity ecosystem before it is widely accepted as a top-four crypto asset. He acknowledged that Ripple is "taking all the right steps," but the market must be convinced the protocol is ready to move into that higher tier.
ETF interest and market dynamics
Market instruments also shape investor demand. Canary Capital's XRP ETF recorded $58 million in trading volume on its first day, the most successful ETF debut of 2025 across both crypto and traditional ETFs. That flows into the narrative that institutional-grade products can accelerate adoption, but Bassili warned that narratives can create mispricing until underlying cash flows and on-chain activity validate the story.
Investors and portfolio managers will continue to watch metrics such as transaction volume, active addresses, developer engagement, and cross-border liquidity solutions to determine which networks earn durable allocations. For now, Bitcoin and Ethereum lead, Solana remains a likely third, and XRP is working to prove its case for the fourth slot in digital-asset portfolios.
Source: cointelegraph
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