XRP ETF Prospects Ignite Investor Interest in Crypto Market Growth

CryptoNewsLand · 2024-10-16T22:23:01.000Z

Tim McCourt of CME Group announced an XRP reference rate and index, a pivotal step toward establishing an XRP ETF. The SEC received its second XRP ETF application from Canary Capital, reflecting growing demand for crypto ETFs. Brazil's recent approval of a Solana ETF could set a precedent for future US ETF developments, impacting crypto prices significantly. The cryptocurrency industry is already excitedly anticipating the possible introduction of XRP and Solana ETFs following the successful launch of spot Bitcoin and Ether ETFs. At the Ripple Swell 2024 conference, Tim McCourt, senior managing director at CME Group, declared that a major advancement in the creation of an XRP ETF has been made. “We do have an XRP reference rate and a real-time index, which is a first step in building out this ecosystem,” McCourt explained. He noted that the establishment of over 50 real-time prices and reference rates is crucial for product providers like Bitwise Asset Management, allowing them to refer to a fully regulated benchmark. SEC Applications and Market Legitimacy This development comes on the heels of the Securities and Exchange Commission (SEC) receiving its second application for an XRP ETF from Canary Capital, as reported by Bloomberg ETF analyst Eric Balchunas. In reaction to Bitwise Asset Management's previous statement, Canary has released a statement demonstrating the increasing demand for bitcoin exchange-traded funds (ETFs). The trading landscape for digital assets changed and the industry's legitimacy grew with the launch of the first bitcoin ETFs in the US. McCourt highlighted how the introduction of ETFs has boosted the business by significantly raising trading volume and open interest. With just an 8% gain over the last year, XRP has struggled to make significant progress in comparison to Bitcoin's 154% climb. This is in spite of the anticipation surrounding the potential XRP ETF. The Future of Solana ETFs ETFs have historically had a positive and significant impact on the price of the coin on which they are based. Nearly 75% of the growth in value of Bitcoin occurred from fresh investments made primarily from spot ETFs after its value surpassed $50,000. In addition to XRP, the uncertain possibility of a spot Solana ETF has generated excitement among investors. With the approval of its first Solana ETF recently, Brazil established a precedent that may impact similar developments in other markets. Though it's unclear when a US-based Solana ETF would launch, it might be a big price driver for cryptocurrencies. The launch of ETFs continues to be crucial in determining the direction of the cryptocurrency landscape, as the market closely monitors these events. With the approval of its first Solana ETF recently, Brazil established a precedent that may impact similar developments in other markets. Although the exact launch date of a US-based Solana ETF is unknown, it might significantly influence cryptocurrency prices. As the market keeps a close eye on these developments, the introduction of ETFs remains essential in defining the course of the cryptocurrency environment. The post XRP ETF Prospects Ignite Investor Interest in Crypto Market Growth appeared first on Crypto News Land.

芝加哥商品交易所集團 (CME Group) 的 Tim McCourt 宣佈了 XRP 參考利率和指數，這是建立 XRP ETF 的關鍵一步。
美國證券交易委員會 (SEC) 收到了來自 Canary Capital 的第二份 XRP ETF 申請，反映出對加密貨幣 ETF 的需求日益增長。
巴西最近批准了 Solana ETF，這可能爲未來美國 ETF 的發展樹立先例，對加密貨幣價格產生重大影響。
繼現貨比特幣和以太幣 ETF 成功推出後，加密貨幣行業已經興奮地期待着 XRP 和 Solana ETF 的可能推出。在 Ripple Swell 2024 會議上，芝加哥商品交易所集團高級董事總經理 Tim McCourt 宣佈，XRP ETF 的創建取得了重大進展。
McCourt 解釋道：“我們確實有一個 XRP 參考匯率和一個實時指數，這是構建這個生態系統的第一步。”他指出，建立超過 50 個實時價格和參考匯率對於 Bitwise Asset Management 等產品提供商來說至關重要，這讓他們可以參考一個完全受監管的基準。
SEC 申請和市場合法性
據彭博 ETF 分析師 Eric Balchunas 報道，美國證券交易委員會 (SEC) 剛剛收到了 Canary Capital 提交的第二份 XRP ETF 申請。針對 Bitwise Asset Management 之前的聲明，Canary 發佈了一份聲明，表明對比特幣交易所交易基金 (ETF) 的需求不斷增加。
隨着美國首批比特幣 ETF 的推出，數字資產的交易格局發生了變化，該行業的合法性也得到了提升。McCourt 強調了 ETF 的推出如何通過大幅提高交易量和未平倉合約來促進業務發展。
XRP 在過去一年中僅上漲了 8%，與比特幣 154% 的漲幅相比，它很難取得重大進展。儘管人們對潛在的 XRP ETF 充滿期待。
Solana ETF 的未來
從歷史上看，ETF 對其所基於的代幣的價格有着積極而顯著的影響。比特幣價值增長的近 75% 來自於其價值超過 50,000 美元后主要通過現貨 ETF 進行的新投資。
除了 XRP 之外，現貨 Solana ETF 的不確定可能性也引起了投資者的興奮。巴西最近批准了首隻 Solana ETF，開創了先例，可能會影響其他市場的類似發展。雖然目前尚不清楚美國的 Solana ETF 何時推出，但它可能會成爲加密貨幣價格上漲的重要推動力。
ETF 的推出對於確定加密貨幣格局的走向仍然至關重要，因爲市場密切關注這些事件。巴西最近批准了首隻 Solana ETF，開創了一個先例，可能會影響其他市場的類似發展。雖然美國 Solana ETF 的具體推出日期尚不清楚，但它可能會對加密貨幣價格產生重大影響。
由於市場密切關注這些發展，ETF 的引入對於確定加密貨幣環境的走向仍然至關重要。
XRP ETF 前景激發投資者對加密貨幣市場增長的興趣一文最先出現在 Crypto News Land 上。

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