The race for a US-based XRP ETF has sparked heightened competition, with financial giants like BlackRock and Fidelity predicted to enter the market.
This comes after Brazil’s successful launch of the first-ever XRP ETF by Hashdex, making it the first country to bring this product to market.
Nate Geraci, president of the ETF Store, is confident that an XRP ETF approval is imminent, noting the coin’s third-largest position in the crypto market.
As a result, major firms like BlackRock and Fidelity are expected to follow suit, joining other players like Bitwise and Grayscale, who have already filed for similar products.
While BlackRock has been cautious about altcoins, focusing mainly on Bitcoin and Ethereum ETFs, recent developments in Ripple’s ongoing legal battle with the SEC have shifted the outlook. Ripple’s victory in its lawsuit against the SEC has ignited optimism, with the company poised for greater institutional adoption.
Approval chances for an XRP ETF are now rising steadily, with projections putting the likelihood at 82% in 2025. Analysts predict a surge in demand for these ETFs, with estimates suggesting they could bring in billions from institutional investors seeking safer crypto investments.
Despite the potential, some caution remains about the oversaturation of the ETF market. Financial analyst Nic Puckrin points out that the focus on Bitcoin ETFs is likely to remain dominant, with newer altcoin-based ETFs facing challenges to stand out.
The downturn in the digital currency market has finally caught up with Pepe Coin, as recent activity from one of its major whales reveals a large selloff, casting a further shadow on the token’s future.
Ethereum’s blockchain underwent a significant shift on September 15, 2022, moving from a proof-of-work (PoW) security model to proof-of-stake (PoS).
Changpeng Zhao, the founder of Binance, recently sparked a wave of speculation in the crypto community after hinting at the possibility of burning all the altcoins in his public wallet.
Nasdaq has filed a request with the U.S. Securities and Exchange Commission (SEC) to obtain approval for the listing of Grayscale Investments’ Avalanche exchange-traded fund (ETF).