The approval of the XRP stock quoted funds (ETF) in the United States entered the final stretch.
Although the official period expires on October 17, the stock and values commission (SEC) could make a decision before that date, so the market is already waiting for the final verdict.
The companies that submitted the requests to list these funds are: Grayscale, Bitwise, Canary Capital Group, 21Shares and Wisdomtree.
Eric Balchunas and James Seyffart, analysts of Bloomberg Intelligence, recently recently shared their predictions about What will be the next cryptocurrency in having an ETF, and highlighted that one of the candidates is XRP.
“Our official approval of approval of the ETFs of Altcoins are out of discussion. Litecoin leads with 90% possibilities, then Dogecoin, followed by Solana and XRP,” said Balchunas.
While the final date is approaching, expectations are increasing, to such a point that The interest in “ETF XRP” searches on Google reached levels never seen before. It is clear that this metric serves to measure the popularity of a cryptocurrency.
Why is the approval of ETFs so important? Because the launch of these regulated products It will give more exposure to XRP among traditional investorswhich could enhance the entry of liquidity to the Ripple Labs ecosystem.
In addition, ETFs facilitate the participation of corporate and business capital, since its operation is very similar to that of conventional actions, thus simplifying the investment process.
Although attention is focused on what happens in the United States, the main global financial power, it is important to remember that Brazil pioneered when launching the first background Spot (in cash) of XRPas Cryptonoticia reported.
This financial product, created by the Hashdex firm and managed by great investigations, made its debut in the Brazilian Stock Exchange (B3) last April 26. Under the name hashdex Nasdaq XRP Index Fund (XRPH11), the fund seeks to replicate the performance of the Nasdaq XRP (NQXRP) index, which is designed to follow the price of the cryptocurrency of Ripple Labs.
In parallel, Canada also added an XRP ETF to its offer. This fund, managed by Purpose Investments, received the approval of the Ontario Securities Commission and began negotiating in the Toronto Stock Exchange. The product provides direct exposure to the XRP cash price through a regulated instrument.
