Whereas not a degree ETF, the approval has created hope amongst buyers. Crypto analyst Armando Pantoja says this can be a large step ahead for XRP. He thinks it may appeal to main Wall Avenue and institutional buyers.
Pantoja identified that Bitcoin and Ethereum additionally began with futures ETFs earlier than getting spot ETFs. He believes XRP is following the identical path. Bitcoin’s spot ETF, for instance, was accredited three years after its futures ETF.
In response to Pantoja, a spot XRP ETF would set off sturdy shopping for stress and increase the value. Nonetheless, not everyone seems to be absolutely satisfied.
One other analyst warned that futures ETFs solely enable worth hypothesis. They don’t require shopping for the precise XRP tokens. This implies they might not create actual demand available in the market.
He additionally famous futures ETFs may cause greater worth swings and include additional prices, like rollovers and administration charges.
In the meantime, XRP’s worth is climbing. It rose 9.4% over the previous week and presently trades at $2.30.
A number of spot XRP ETF functions are actually awaiting SEC selections, anticipated later this 12 months.