Whereas not a degree ETF, the approval has created hope amongst buyers. Crypto analyst Armando Pantoja says this can be a massive step ahead for XRP. He thinks it might entice main Wall Road 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 authorized three years after its futures ETF.
In line with Pantoja, a spot XRP ETF would set off sturdy shopping for stress and increase the value. Nonetheless, not everyone seems to be totally satisfied.
One other analyst warned that futures ETFs solely permit worth hypothesis. They don’t require shopping for the precise XRP tokens. This implies they might not create actual demand out there.
He additionally famous futures ETFs may cause increased worth swings and include further prices, like rollovers and administration charges.
In the meantime, XRP’s worth is climbing. It rose 9.4% over the previous week and at present trades at $2.30.
A number of spot XRP ETF purposes are actually awaiting SEC choices, anticipated later this yr.
