The XRP ETFs landscape is rapidly evolving, with October poised to be a pivotal month for the cryptocurrency market. In the coming weeks, the focus is on potential spot ETF launches for XRP in the U.S., with six significant applications under scrutiny.
According to Nate Geraci, president of NovaDius Wealth Management, October holds potential transformative events for XRP and the broader crypto sector. Recent developments have set the stage, including the first ETF offering spot XRP exposure, the SEC’s approval of generic listing standards, the debut of index-based spot crypto ETFs, and Vanguard’s surprising change in stance on crypto ETFs.
XRP ETFs: A New Era for Cryptocurrency
The recently launched REX-Osprey XRP ETF (XRPR) marks the first U.S. ETF to offer exposure to spot XRP. This week, options trading was introduced to the XRPR ETF, expanding its appeal to traders. In addition, the Hashdex Nasdaq Crypto Index U.S. ETF received the green light under the SEC’s new listing standards, potentially paving the way for other assets like XRP.
What Lies Ahead in October?
Between October 18 and 25, the SEC is scheduled to make decisions on six major spot XRP ETF applications. These include the Grayscale XRP ETF (Oct. 18), 21Shares Core XRP Trust ETF (Oct. 19), Bitwise XRP ETF (Oct. 22), Canary Capital XRP ETF (Oct. 23), WisdomTree XRP ETF (Oct. 24), and CoinShares XRP ETF (Oct. 23).
Moreover, Ripple’s pursuit of a national bank charter, currently under review by the Office of the Comptroller of the Currency, is also anticipated to conclude in October.
Institutional Inflows and Market Impact
The XRP community remains hopeful, predicting that XRP ETFs could draw substantial institutional investments. This optimism is supported by CME Group’s XRP futures, which have seen open interest surpassing $1 billion, marking the fastest growth among crypto derivatives contracts. Notably, CME Group plans to launch options on XRP and Micro XRP futures on October 13.
These developments could potentially propel XRP to new all-time highs, with some analysts forecasting prices between $8 and $10.
As these events unfold, the cryptocurrency market eagerly anticipates how XRP ETFs will shape the future landscape, potentially revolutionizing institutional participation in crypto investments.
