Led by ProShares, the competition to launch XRP ETF is intensifying. As several asset management companies submit applications for XRP ETF releases, institutional investors' interest in cryptocurrencies is increasing.
ProShares has applied for approval of a 'Short XRP ETF' product targeting a release on April 30, 2025. If this product is approved, investors will be able to invest in XRP through a standard securities account.
According to Kaiko Research, XRP currently has 10 ETF applications in progress, which is higher than Solana, Litecoin, and Dogecoin. Additionally, XRP shows the highest liquidity, with active trading near market prices. This market depth is a crucial factor in the SEC's ETF approval review.
Cryptocurrency analyst John Squire emphasized that ProShares' ETF application will be XRP's substantial momentum, along with the expectation that the Ripple and SEC lawsuit will be resolved. He explained that XRP is now actively seeking market recognition rather than waiting for approval.
Bitwise, 21Shares, and CoinShares are also preparing to launch XRP-based products. This appears to reflect investors' demand to invest in XRP through regulated methods. If these ETFs are approved, XRP's status and credibility in traditional financial markets are expected to significantly increase.
The leadership change at the SEC is also acting as a positive factor. With speculation that the SEC might withdraw its ongoing appeal in the Ripple lawsuit, the possibility of approving a spot XRP ETF is growing. However, BlackRock, a giant in the ETF market, has not yet disclosed its XRP ETF plans, and its potential participation is expected to determine the landscape of the XRP ETF market.
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