The crypto industry is approaching a major milestone as the market anticipates the possibility of approval for cryptocurrencies. XRP Spot ETF In the United States (US). Analysts are U.S. Securities and Exchange Commission (SEC) This review could put the final nail in the coffin for XRP. The ETF application is still awaiting approval, and the market is watching closely as a green light could pave the way for XRP’s mainstream adoption and increased institutional investment.
XRP ETF becomes a market changer
Nate Geraci, president of NovaDius Wealth Management and co-founder of ETF Institute, recently said: said X First spot on social media XRP ETF may be launched within the next two weeks. He called the incident “the final nail in the coffin” for previous anti-crypto regulators.
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What is noteworthy is that the US SEC was involved. 5 year lawsuit against Ripplewhich ended about three months ago. Geraci believes the approval of the Spot XRP ETF represents an important step forward not only for XRP, but also for the broader crypto industry.
temporary Delays due to US government shutdownThe approval of the XRP ETF, which began in October, has been postponed. But there are new reports of bipartisan efforts. resume The government’s operations have reignited expectations for ETFs. Geraci pointed out A subsequent post by X said the end of the government shutdown could trigger a massive outbreak. Launch of virtual currency ETFa 33-act spot XRP ETF is likely to appear this week.
Recently, in America, Depository Trust & Clearing Corporation (DTCC) has listed nine new spot XRP ETFs on its platform, and expectations are high for a launch this November. This list includes XRP ETFs from top asset managers such as Bitwise, Franklin Templeton, Canary Capital, Volatility Shares, CoinShares, T-Rex Osprey, and 21Shares.
Amendments to ETF application bring ETF launch closer than ever
Further evidence that an XRP ETF may be imminent comes from recent filing updates from major issuers. Eric Balchunas, senior ETF analyst at Bloomberg, said: reported 21Shares has submitted Form 8(a) filed with US SEC on November 7th regarding Spot XRP ETF. The new changes to the application form officially begin a 20-day countdown to approval and launch of the XRP ETF by November 27th.
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Crypto critic John Squire noticed If the US SEC does not take action within the allotted period, approval will proceed automatically. Similarly, multiple issuers including: canary capitalalso has revoked A “delayed amendment” triggers the same 20-day automatic approval countdown.
Notably, these filings suggest the market is nearing a regulatory green light for XRP ETFs. Among recent developments, Squire noted that the United States has never before been this close to full approval of the XRP ETF. If granted by the SEC, trading volumes, liquidity, and volumes could change significantly. institutional participation At the market. It will also expand our current leading ETF offering beyond just that. Bitcoin and Ethereum.
Featured image from Peakpx, chart from Tradingview.com