XRP ETF listing begins in earnest
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With the US ETF approval process restarting this month, several asset management firms are pursuing listings of XRP ETFs. Canary Capital will list the Canary Capital Spot XRP ETF on the Nasdaq on the 13th. Franklin Templeton will list its own ETF on the Chicago Board Options Exchange (CBOE) on the 18th, and 21Shares, Bitwise, and CoinShares will sequentially launch products from the 20th to the 22nd. Grayscale and WisdomTree plan to list XRP ETFs on the New York Stock Exchange on the 25th.
Starting this month, U.S. institutional investors will be able to access XRP directly through regulated markets. This has the potential to generate billions of dollars in new liquidity, similar to the influx of funds that occurred with the listing of Bitcoin (BTC) and Ethereum (ETH) ETFs earlier this year.
Ripple CEO Brad Garlinghouse called XRP the "heart and soul" of the company's strategy on Monday. "Ripple has strengthened XRP's trust, usability, and liquidity," Garlinghouse said.
The XRP price maintained the $2 support level. U.S. analysts, including Jake Claver, interpreted the daily closing price breakout above $2.70 as a bullish signal and suggested a year-end price target of $10 to $20 if ETF demand persists. The recent market strength and improving economic conditions have boosted investor sentiment.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
