- The first spot XRP ETF could launch within two weeks signaling new regulatory clarity.
- XRP price dipped to $2.42 after recent highs but trading volume rose sharply.
- Multiple issuers updated XRP ETF filings showing growing institutional interest in crypto.
The first spot XRP exchange-traded fund (ETF) could launch within days. ETF expert Nate Geraci indicated the maximum timeline for the launch is two weeks. The announcement follows years of delays and regulatory scrutiny.
The U.S. government shutdown contributed to missed SEC deadlines for multiple XRP ETF applications. Grayscale was first to apply, submitting its ETF request on October 17. Five other issuers, including 21Shares, Bitwise, Canary Capital, CoinShares, and WisdomTree, also awaited approval last month. In September, these major firms filed updated their XRP ETF proposals aiming to align with SEC requirements.
Canary Capital recently updated its ETF application with revised language, setting a target launch by November 13. It recently submitted final updates to its proposed spot exchange-traded funds for Litecoin and Hedera. The company gained automatic approval for Litecoin and HBAR ETFs through 8-A and CERT filings. Meanwhile, Bitwise updated its filing to reflect a management fee of 0.34% and trading on NYSE Arca, according to Bloomberg analyst Eric Balchunas.
XRP ETF Marks Ripple’s Regulatory Victory
The upcoming XRP ETF launch represents a significant regulatory milestone. The SEC’s lawsuit against Ripple slowed XRP’s growth for over five years. The case was dropped earlier this year under the Paul Atkins-led SEC, which favored a crypto-friendly approach.
Industry experts highlight that the ETF launch signals the end of prolonged regulatory resistance. Since the lawsuit ended, Ripple has been gradually gaining momentum. The price of XRP is at multi-year highs indicating a new period of investor confidence.
XRP Price Adjusts Amid Growing Interest
The price of XRP has been decreasing by 3% in the last day and is currently standing at $ 2.42. The trading volume has risen by 40% despite the decline, as it indicates high interest in the market. Analysts observed poor short-term charts, which showed that it may retest at $2.25.
Meanwhile, the launch of the XRP ETF may produce major purchases. Analysts hope that the bullish trend will drive the prices to the resistance levels of $2.80 and $3. Whales have begun to pile up XRP amid Evernorth treasury developments, which shows high institutional ownership.
ETF Applications Signal Broader Market Activity
The future approvals of the XRP ETFs indicate wider crypto ETFs. Several issuers have tightened filings in order to meet SEC requirements. Management fee and trading platform, as well as launch schedule, are often filed in updates.
These trends point to the fact that crypto ETFs are becoming closer to mainstream acceptance. Investors monitor the new launches and trading platforms. The regulatory clarity and the growing institutional demand are the two factors that make XRP ETFs a landmark event.
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