What to Know:
- DTCC lists nine XRP ETFs, signaling growing institutional interest.
- Spot XRP ETFs await SEC approval, potentially launching this month.
- Recent launches of other altcoin ETFs suggest progress for XRP products.
The Depository Trust & Clearing Corporation (DTCC) has listed nine XRP ETFs, hinting at the possible launch of spot products. This move highlights increasing institutional interest in XRP and sets the stage for potential market activity. The debut of the first U.S. spot XRP ETFs could occur this month, pending regulatory clearance.
The listing of nine XRP ETFs on the DTCC platform indicates that issuers and clearing partners are preparing for launch. It’s important to note that a DTCC listing doesn’t guarantee immediate trading, but it signifies readiness. The listed ETFs include both futures-based and spot-based products, each offering different exposure to XRP.
While some XRP ETFs already trade using futures contracts, others are awaiting SEC approval to hold XRP directly. The SEC’s review process experienced delays due to recent government shutdowns, affecting multiple altcoin ETF applications. Despite these setbacks, the altcoin ETF space has seen progress, with the launch of spot Litecoin and Solana ETFs.
The removal of a delaying amendment from Canary Capital’s XRP ETF filing suggests a potential launch date of November 13, pending Nasdaq clearance. Fidelity and Canary have also filed final S-1 updates for other altcoin ETFs, indicating a broader trend. The approval of these filings could pave the way for the first pure spot XRP ETFs to begin trading.
The potential launch of spot XRP ETFs marks a significant step for XRP and the broader crypto market. As regulatory landscapes evolve, these developments could influence investor sentiment and market dynamics. Investors and traders should closely monitor regulatory decisions and market activity as these products approach their potential launch.
Source: Original article
