Ripple’s XRP ETP milestone sparks optimism amid ETF filing race and rumors of SEC regulatory changes.
XRP ETP Crosses $100 Million Milestone
The 21Shares Ripple XRP ETP (AXRP) has reached a new milestone, surpassing $100 million in assets under management (AUM). Launched in April 2019, the ETP is fully backed by XRP and has gained traction among European investors. Companies like CoinShares and 21Shares dominate the XRP ETP market in Europe.
Pending XRP ETF Proposals in the U.S.
The Securities and Exchange Commission (SEC) has yet to approve spot XRP ETFs in the U.S., but filings from Bitwise and Canary Capital show progress. Pro-crypto attorney Jeremy Hogan highlighted that SEC-related risks remain a significant hurdle. He stated, “That part of the S-1 might have to be amended fairly soon.” Ripple CEO Brad Garlinghouse remains optimistic, repeatedly predicting the inevitable launch of an XRP ETF in the U.S.
XRP Price Rally Amid Regulatory Optimism
XRP surged over 80% in the past week, reaching levels unseen since November 2021. Rumors surrounding SEC Chair Gary Gensler’s resignation have fueled expectations for a more crypto-friendly regulatory environment. This shift could ease the path for XRP ETFs and increase institutional participation.
ETF Filing Race Heats Up
The race to launch the first XRP ETF is gaining momentum as companies like Bitwise position themselves for potential approval. Analysts believe that changes in SEC leadership could remove existing roadblocks, paving the way for more crypto ETF products.
Conclusion: XRP’s Market Resilience and Future Prospects
XRP remains the sixth-largest cryptocurrency by market capitalization, reflecting strong investor confidence. The success of its ETPs and the push for ETFs demonstrate growing institutional interest. Ripple’s developments could mark a pivotal moment for the crypto market as regulatory landscapes evolve.
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