XRP ETFs Are Probably Second to Receive SEC Approval, Competing with DOGE and Solana: Kaiko.

Market research firm Kaiko reported in a statement released on Monday that an exchange-traded fund with an emphasis on XRP is more likely to be approved than other recently proposed spot funds tracking another big altcoins. &nbsp,

Kaiko attributed the high liquidity of the main token to the fact that XRP holds the top spot. Spot size for XRP on American exchanges just reached its highest level since a long-running petition in 2020 led to delistings, according to Kaiko in its record. By business cover, XRP is the fourth-largest crypto.

Kaiko added that XRP’s prior approval of a bank giving investors subjection to the penny even worked in its favor. Early this month, U.S. property director Teucrium Investment Advisors introduced a 2x utilized XRP ETF.

When there is already an active Fund like this, which is highly leveraged and more difficult than a coffee area ETF,” It’s hard to argue against allowing a area product,” Kaiko’s Adam Morgan McCarthy told . &nbsp,

Lists of area XRP funds have been submitted by Xor, Grayscale, 21Shares, CoinShares, and Canary Capital. The uses for ETFs based on Solana, Litecoin, Cardano, and Dogecoin, among different currencies, and other examples of them reflect the increasing efforts of manufacturers to meet the demand for crypto purchase goods. According to Kaiko, a Solana-based account was the most likely option after an XRP ETF to be granted a regulatory green light. &nbsp,

The creators of the finance company Ripple created a virtual gold known as XRP. At the end of 2020, Ripple’s legal team claimed that it sold XRP-style unregulated assets. &nbsp,

Coin prices fell sharply, particularly during the terrible keep business. After Ripple’s complaint with the SEC was half won, the gold has since come back. A judge ruled in 2023 that program XRP selling to retail traders on crypto exchanges did not constitute securities.

Despite the judge likewise ruling that$ 728 million worth of currencies for administrative sales constituted unregulated stocks sales, Ripple and the crypto industry as a whole saw the decision as a win.

The fintech firm agreed to pay a$ 50 million fine last month to put an end to the SEC investigation.

XRP recently traded at$ 2.12, up more than 15 % over the previous week, despite being well below its all-time high of$ 3.40 per coin from 2018, according to crypto data provider CoinGecko. XRP roughly matched that all-time high from January.

According to U.K. asset manager Farside Investors, the SEC last year approved Bitcoin ETFs, which have been wildly successful and have generated more than$ 39 billion in net flows. The controller approved Ethereum money a few months later, but they weren’t met with the same level of investment joy.