Vincent Van Code, a software engineer and founder of several AI-focused startups, has issued a controversial outlook on the future availability of XRP. He argued that by the end of this decade, native XRP may no longer be accessible through direct retail markets.
Current data from XRPScan indicates that approximately 65.2 billion XRP are in circulation. With the total supply fixed at 100 billion tokens and more than 14 million already burned, the remaining supply available for release is under 35 billion.
Despite this, Van Code suggested that the structure of XRP distribution could shift significantly before the remaining supply enters open markets. He further commented that many holders underestimate the strategic importance of the asset.
In a couple of years time, native XRP will not really be for sale directly, only via ETFs, and potentially other exposures, or market maker style holdings with your bank.
Only major custodians will hold it in behalf of banks, fund managers, etc.
Seriously, if there was ever a… https://t.co/uDlzq3OBLU
— Vincent Van Code (@vincent_vancode) November 19, 2025
XRP Viewed as a Future Wholesale Asset
Van Code’s comments were prompted by Bitwise’s announcement of its XRP-focused exchange-traded fund, which is launching under the ticker “XRP.” The selection of this ticker sparked discussion within the community about how analysts and investors will differentiate between the asset and the ETF.
However, Van Code connected the naming decision to a broader industry direction. He asserted that XRP is gradually being positioned for institutional-grade functions, such as large-scale settlement, custody, and transfers.
According to him, this shift would lead to a scenario in which individual traders gain exposure to XRP primarily through ETFs or similar instruments rather than through direct token purchases.
He claimed that such a transition aligns with long-term planning within the industry and reflects an intended design for XRP’s role within financial infrastructure.
Anticipated Institutional Control of Circulating Supply
Van Code’s outlook implies that major financial institutions could acquire control of a substantial portion of XRP’s supply. In this scenario, the majority of circulating XRP would reside with banks, asset managers, and specialized digital-asset treasury firms. Only a minority of private holders who choose not to sell would continue to own the token directly.
This projection echoes a common belief within segments of the XRP community that institutional usage for international settlements could require large quantities of the asset. The thesis assumes that participation in settlement markets, which involve enormous transaction volumes, would increase demand for XRP from corporate and financial organizations.
Van Code placed a timeline of roughly fifteen years for this transition, asserting that existing industry developments are consistent with this trajectory. He estimated that the structural shift could be complete by 2030.
A separate analysis recently explored how a significant reduction in circulating supply could influence market pricing. That analysis suggested that if institutional activity or staking programs were to remove as much as 80% of the available supply from active circulation, XRP’s price could rise to a range between $41.67 and $83.33.
Although Van Code did not provide a specific price target, his claim implies that reduced access for retail buyers and concentration of supply in institutional custody could have substantial effects on market dynamics.