- XRP ETF launches today, opening new doors for institutional investors.
- Crypto ETFs including XRP set to begin trading this week.
- Solana, Hedera, XRP ETFs listed but await SEC’s final approval.
Today marks a significant moment for the XRP community, as the much-anticipated XRP ETF is officially set to launch. Several cryptocurrency exchange-traded funds (ETFs), including one that prominently features XRP, have cleared the SEC’s 75-day review period and are now listed for trading.
The much-anticipated REX-Osprey XRP ETF has been officially listed, and this is an essential move by the cryptocurrency. Bloomberg Intelligence analyst Eric Balchunas says that these ETFs have reached what is called the post-effective stage and will start trading, with XRP being one of the significant assets.
This is also a big step in the direction of XRP, given that it has had legal disputes with the SEC in the past. Launching the XRP ETF is expected to have a big effect, likely attracting institutional investors.
Moreover, this is a significant development in the recognition of digital assets in conventional investment markets. The REX-Osprey ETFs are registered under the Investment Company Act of 1940, as opposed to the Securities Act of 1933, where other crypto ETFs are registered. Thus, a smoother and faster path to market can be made without further objection on the part of the SEC.
Also Read: Canary XRP and Hedera ETFs Listed on DTCC Ahead of SEC Decision
What This Means for XRP and Crypto Investors
For XRP, the launch of this ETF is a significant development. The ETF will introduce the cryptocurrency into a more traditional investment structure, which will appeal to a broader audience. This change would also expose institutional investors who are becoming more interested in how they can add crypto to their portfolio.
The XRP ETF’s launch is part of a broader wave of crypto ETFs, which includes the REX-Osprey Bitcoin, Dogecoin, Trump, and Bonk ETFs. Nonetheless, even with the hype around these funds, other crypto ETFs provided by companies such as BlackRock and Fidelity are still in the delay stage, with the SEC still in its assessments.
Are the Solana, Hedera, and XRP ETFs Approved?
Today, the Canary ETF filing for Solana, Hedera, and XRP ETFs officially received listings on the Depository Trust & Clearing Corporation (DTCC). While this marks a crucial step in the ETF approval process, it is essential to note that being listed on the DTCC does not automatically mean these ETFs are approved for trading.
The DTCC plays a vital role in clearing and settling ETF products, but the final approval to begin trading still rests with the SEC. Without the SEC’s approval, these ETFs cannot legally launch in the U.S. market. Therefore, while the listing of the Solana, Hedera, and XRP ETFs is a significant development, their trading debut hinges on the SEC’s final decision.
Also Read: Crypto Market Surge: Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) Lead the Charge
