$XRP With the advent of Spot Bitcoin ETFs which were approved by the United States Securities and Exchange Commission (SEC) on Wednesday, crypto investors have quickly turned their attention to the next big thing which might be XRP ETFs. This is picking up steam as Steve McClurg, Chief Investment Officer (CIO) for Valkyrie, has lent his voice to the cause.Valkyrie Exec Says $XRP ETF Could Be NextIn an interview with Bloomberg, McClurg reveals that with the approval of Spot Bitcoin ETFs, the expectation is that altcoins will soon follow the same path. He explains that attention could be turned to #Ethereum which is currently the second-largest cryptocurrency in the space. McClurg figures that a lot of filings are going to be submitted for Ethereum ETFs after this.Beyond the expected ETF filings for #Ethereum the Valkyrie CIO mentions that the likes of Ripple's #XRP could be the next in line to get approved for an ETF. "It wouldn't surprise me if we saw Ripple or Ethereum spot ETFs out there," McClurg said during the interview.Although McClurg showed optimism regarding a possible #XRP ETF, he revealed that there was no indication of whether Valkyrie was going to get involved in it or not. Valkyrie, who has been heavily involved in #Bitcoin and #Ethereum ETFs, has not shown any interest in the altcoin so far.However, the CIO explained that crypto can be incredibly unpredictable. Given this, it is impossible to know where the market will end up swinging and what asset managers will take an interest in next.ETF Talks For #Altcoins Heat UpThe discussions for a possible #XRP ETF are not new, especially as the arguments for #BitcoinSpot ETFs heated up. As a result, crypto researcher, ABS, who is part of the 3T Warrior Academy gave a rundown of what the impact of a possible #XRP ETF would be.ABS explains that this could give rise to more interest from institutional investors as they could easily gain exposure to the asset with an ETF. Additionally, it would also propel #XRP into the mainstream as marketing would take off. This would obviously increase interest around the world, and finally, #XRP ETF would give the crypto a liquidity life-off.The effect that an ETF would have on the price of the asset can be gauged by what happened in November when rumors emerged that BlackRock had appliedfor an #XRP ETF As the rumor spread, the XRP price surged rapidly, before correcting back downward once the rumors were dispelled.Nevertheless, this performance from the altcoin showed the readiness of the market for an #XRP ETF, In the case of the altcoin's price reaching as high as $100,it is likely not happening in the next few years. However, there is no doubt that the approval of an $XRP spot ETF would help propel it faster toward this goal.

#Write2Earn $BTC price soars amid continuous net inflow of Bitcoin spot #ETFs Disclaimer: The opinions expressed by our writers are their own and do not represent the views of @WISE CRYPTO NEWS . The financial and market information provided on @WISE CRYPTO NEWS is intended for informational purposes only. @WISE CRYPTO NEWS is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.In a continued bullish trend for the cryptocurrency market, #BitcoinSpot ETFs recorded a total net inflow of $38.45 million on Feb. 1, marking the fifth consecutive day of net inflow. Data from SoSoValue, a leading market analytics platform, reveals significant movement within the ETF sector as investors flock to gain exposure to the world's largest cryptocurrency.Notably, while the overall trend was positive, Grayscale’s #gbtc experienced a single-day net outflow of $182 million. However, this was more than offset by the influx of funds into other Bitcoin spot ETFs, with a total net inflow of $220 million into the remaining nine ETFs.Among the Bitcoin spot ETFs, BlackRock's IBIT emerged as a prominent leader in terms of daily net inflow, attracting a substantial $163.86 million. Fidelity's FBTC also exhibited strong investor interest, with a net inflow of $35.77 million. The remaining ETFs collectively contributed to the net inflow, indicating a growing appetite for Bitcoin investment vehicles within the traditional finance sector.Bullish trend emergesThe positive sentiment on the Bitcoin spot ETF market corresponds with the broader trend on the cryptocurrency market. As of the latest available data, the price of Bitcoin stood at $43,070, reflecting a notable increase of 2.11% within the last 24 hours. This upward movement is indicative of the enduring appeal of Bitcoin as an asset class among both institutional and retail investors.The recent surge in Bitcoin spot ETF inflows underscores the growing acceptance of cryptocurrencies within the traditional financial ecosystem. As institutional investors increasingly seek exposure to digital assets, ETFs offer a convenient and regulated avenue for them to participate in the crypto market.Moreover, this trend aligns with the broader adoption of cryptocurrencies as legitimate assets and further solidifies Bitcoin's position as a store of value and a viable investment option. Analysts and experts in the cryptocurrency space continue to monitor the Bitcoin ETF market for signs of sustained growth and evolving investor sentiment.#PYTH

Grayscale Investments has moved thousands of Bitcoin (BTC) to multiple addresses in 30 days, a move stirring speculation in the crypto community.
Read more on: https://thecryptobasic.com/2024/01/15/grayscale-investments-moves-over-21-4k-bitcoin-as-etf-reality-kicks-in/
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