The XRP spot ETF has accumulated over $1 billion in funding, but some institutional investors remain skeptical and view it as a Meme coin. Summary: Since its listing in November 2025, the XRP spot ETF has attracted over $1 billion in funds, but analysts predict that this trend may not last. Investors are concerned about the lack of builders in the XRP ecosystem, believing that the absence of infrastructure and applications will limit XRP's growth. Many institutions also do not consider it a serious project and even see it as a Meme coin. According to BlockBeats, on January 10, since its listing in November 2025, the XRP spot ETF has absorbed over $1 billion in funds, but some analysts predict that this wave may not continue. Co-founder of the investment platform Glider, Brian Huang, said: "The core of investment is the growth potential and the builders developing on this blockchain. When we look at the builder attention in a16z's investment portfolio, XRP even failed to make the list." Huang's skepticism stems from the lack of builders in the XRP ecosystem. "Builders creating infrastructure and applications can drive ecosystem development and increase the value of the underlying token," Huang explained. "Without builders, XRP's growth will be extremely limited. Most large institutions do not even consider Ripple-related XRP as a serious project. Institutional investors holding the majority of crypto ETFs may be reluctant to hold XRP, viewing it as a Meme coin."#GateFun马勒戈币暴涨1251.09%