- SEC’s likely approval of a spot XRP ETF could unlock a monumental $30 trillion market for cryptocurrencies.
- Recent legal victories by Grayscale and Ripple make an XRP ETF a potentially more attractive investment vehicle than most others.
Inspired by the SEC insiders and Forbes Digital Assets who suggest that a game-changing approval is near, the buzz isn’t just about Bitcoin and Ethereum anymore—Ripple’s XRP is in the spotlight, too. Mark Phillips’ tweet encapsulates this excitement perfectly:
Could an $XRP ETF be used as an ODL pool?
If so, value would increase both with asset price appreciation AND with ODL utilization.
This could make an $XRP ETF more attractive than most other investment vehicles.
— Mark Phillips {XRP} (@Mark_Phillips) September 3, 2023
The Landscape for SEC Approval
Former SEC chair Jay Clayton has mentioned the “inevitable” approval of a Bitcoin spot ETF, fueling optimistic expectations for other crypto assets like XRP. This comes on the heels of the SEC postponing decisions on ETF applications from giant asset managers overseeing a collective $15 trillion.
Legal Wins Boost Prospects
After Grayscale’s landmark legal victory against the SEC, the odds for the approval of a spot Bitcoin ETF by the end of 2023 have risen from 65% to 75%. This win might pave the way for other crypto assets, including XRP.
Ripple’s Surge
Riding a wave of judicial approval, Ripple is looking into diversified applications for its native token, XRP. Bloomberg’s James Seyffart indicates that for an XRP spot ETF to get the green light from the SEC, a listing on the Chicago Mercantile Exchange (CME) is crucial.
Impact of an XRP Spot ETF
Mark Phillips’ tweet raises the tantalizing possibility of an XRP ETF serving as an On-Demand Liquidity (ODL) pool. Such a development could make an XRP ETF uniquely attractive, not just appreciating in price but also becoming more valuable through ODL utility.
🚀 Breaking News! 🌐 SEC's nod to a spot XRP ETF might just be the key to unlocking a staggering $30 trillion crypto market! 📈💰 With Grayscale and Ripple's recent legal wins, the future looks bright for XRP, aiming for the moon at $1 and beyond! 🌙🚀 #XRP #Ripple pic.twitter.com/v5Np7Dux8u
— Collin Brown (@CollinBrownXRP) September 6, 2023
Institutional Demand is Climbing
Contrary to some analyst expectations, there is increasing demand for XRP among institutional investors. With skyrocketing XRP sales and recent reports showing a $0.5 million institutional inflow, this crypto asset is gathering steam.
The stage seems set for a spot XRP ETF, a move that could unlock trillions in market capitalization and redefine the crypto investment landscape.
