What to Know:
- Bloomberg ETF analyst James Seyffart projects potential launch dates for Grayscale’s and Franklin Templeton’s XRP ETFs.
- Grayscale’s GXRP and Franklin Templeton’s EZRP could launch as early as November 24, pending regulatory updates.
- Other XRP ETF applications from 21Shares, CoinShares, and WisdomTree are awaiting SEC approval.
The potential launch of additional spot XRP exchange-traded funds (ETFs) is generating significant interest among investors. James Seyffart, a Bloomberg ETF analyst, has provided an updated timeline for when Grayscale’s and Franklin Templeton’s XRP ETFs might begin trading. This development follows the recent debut of the Canary XRP ETF (XRPC) and the Bitwise XRP ETF (XRP).
Seyffart anticipates that Grayscale’s converted XRP Trust ETF (GXRP) could launch as early as November 24. Franklin Templeton’s XRP ETF (EZRP) may also launch on the same day, contingent on further updates to their filings. These projections are based on the removal of delay clauses in their applications, potentially paving the way for an accelerated launch.
Grayscale XRP Trust ETF (ticker: $GXRP) is coming. pic.twitter.com/SGIWuRwCMC
Other asset managers, including 21Shares, CoinShares, and WisdomTree, have pending XRP ETFs awaiting regulatory approval. However, these firms have yet to remove delay language from their filings, meaning their ETFs are unlikely to launch until direct SEC approval is granted. The regulatory landscape for crypto ETFs, including those for XRP, remains a key factor influencing market access.
The two spot XRP ETFs currently trading in the U.S. have already seen substantial net inflows. Canary’s XRPC accounts for $305.40 million of the total, while Bitwise’s XRP ETF has contributed $105.36 million. These figures indicate a strong initial appetite for XRP investment vehicles among crypto traders.
The potential launch of more XRP ETFs signals growing institutional interest in XRP, as well as in the broader crypto market. Investors are closely watching regulatory developments and the performance of existing crypto ETFs, including those focused on Bitcoin and even Shiba Inu (SHIB), to gauge the future direction of the market. This evolution underscores the increasing integration of digital assets into mainstream finance.
Source: Original article
