Years ago, when John E Deaton, a well-known crypto advocate and legal voice in the XRP community, predicted that exchange-traded funds (ETFs) and corporate crypto treasuries would expand beyond Bitcoin, many laughed! But today, those predictions are becoming reality—and fast.
Now, again, Deaton says that Wall Street’s greed could make XRP, ETH, and SOL the next big treasury assets.
Deaton’s “Greed Theory” Playing Out
Deaton had one simple theory: Wall Street is too greedy to sit back and let only a few players profit from crypto. Earlier, Deaton said Wall Street would never let Michael Saylor be the only one using Bitcoin as a treasury strategy.
According to Deaton, there are now between 60 and 100 companies that have implemented a Bitcoin treasury strategy.
He believed the same would happen with other tokens too, once Bitcoin’s treasury strategy worked, others wanted in — and not just with Bitcoin. Meanwhile, companies are now adding ETH, XRP, and SOL to their corporate balance sheets to gain an edge.
Who’s Holding XRP as a Treasury Asset?
Deaton points out that at least five companies have already been betting on XRP’s treasury strategy:
- VivoPower International has raised $121 million for a $100 million XRP treasury plan, with strong backing from Saudi investors and advice from a former SBI Ripple Asia executive.
- Worksport Ltd., an American car parts company, set aside $5 million — or 10% of its spare cash — for XRP and Bitcoin.
- Hyperscale Data Inc. plans to launch an XRP lending platform by late 2025, listing XRP directly on its accounts.
- Webus International Limited, a Chinese company, partnered with Samara Alpha Management to manage a $300 million XRP treasury for cross-border payments.
- Wellgistics Health, Inc. uses XRP in its treasury to speed up payments in healthcare and avoid banking delays.
It’s Not Just XRP — ETH and SOL Too
Deaton pointed out that at least two companies now hold ETH as a treasury strategy, including Fundstrat and SharpLink Gaming, which has a $425 million ETH position supported by Consensys, Ethereum’s co-founder, Joseph Lubin’s company.
For Solana, the list is growing too:
- Upexi raised $100 million for a Solana treasury.
- DeFi Development Corp saw its shares surge 3,000% after announcing SOL purchases.
- Sol Strategies has launched as a Solana treasury company, getting support from major firms like Cantor Fitzgerald.
- An unnamed EdTech company also plans to raise $500 million to hold SOL.
Wall Street’s Hunger For Profit
Meanwhile, Deaton said that this wasn’t just about XRP, Ethereum, or Solana—it was about understanding human behavior, the hunger for returns, and the inevitability of crypto adoption in corporate finance.
As Deaton puts it, his predictions weren’t about specific cryptocurrencies, but about how people—and especially Wall Street—respond when they smell opportunity.
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