WASHINGTON / LONDON (IT BOLTWISE) – The upcoming launch of XRP spot ETFs could revolutionize the crypto market. With the possible lifting of the US government shutdown and the associated resumption of SEC activities, experts expect an increase in institutional interest. The first ETFs could launch in just a few days and attract billions in investments.
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The launch of XRP spot ETFs is imminent and could have a lasting impact on the crypto market. Experts expect the lifting of the US government shutdown to pave the way for a flood of crypto ETFs. Nate Geraci, President of NovaDius Wealth Management, emphasizes the importance of this development and sees market opportunities opening up for institutional investors. The possibility of the first XRP spot ETF launching as early as this week is causing excitement among market observers.
The legal framework for the introduction of such ETFs has been made easier by an amendment to the S-1 filings. These changes, made by companies like Canary Funds, eliminate the need for direct approval from the SEC, significantly speeding up the process. Other major players such as 21Shares, Bitwise and Franklin Templeton have also made similar moves to capitalize on the current market situation.
Canary Capital CEO Steven McClurg has upgraded his forecasts for the first inflows into XRP spot ETFs. He originally assumed $5 billion, but now he also thinks $10 billion is possible. If this happens, the ETF could be one of the top 20 most successful ETFs of all time. These expectations reflect the growing interest of institutional investors looking for new ways to invest in the crypto market.
Technically, XRP recently saw a 3.48% increase, indicating growing confidence in the cryptocurrency. Despite this increase, the price remains below the 50- and 200-day EMAs, indicating continued uncertainty. Nevertheless, the upcoming ETF launches could represent a turning point and have a lasting impact on the price. Market participants are keenly watching developments and expect the ETFs to serve as a barometer for institutional interest in cryptocurrencies.
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