SEC to Rule on Six Spot XRP ETF Applications This Month
- Decisions on six spot XRP exchange-traded fund (ETF) applications are expected between October 18 and October 25.
- If approved, XRP could become the third cryptocurrency to have a U.S.-listed spot ETF, following Bitcoin and Ethereum.
- The REX-Osprey XRP ETF launched in late September, marking the first U.S.-listed ETF directly tied to spot XRP.
- CME Group reported that open interest in XRP futures has surpassed $1 billion, indicating strong growth in crypto derivatives.
- Ripple’s application for a national bank charter is also under review by the Office of the Comptroller of the Currency (OCC), with a decision anticipated this month.
The SEC’s upcoming decisions on these ETF applications come amid new listing standards aimed at streamlining approvals for crypto ETFs. The approval of these products could significantly enhance institutional investment in regulated XRP products.
With open interest in XRP futures exceeding $1 billion, October stands as a pivotal month for regulatory developments impacting XRP’s market structure.(Source)
