REX-Osprey XRP ETF Achieves Record $37.7M Trading Volume on Launch Day
- The REX-Osprey XRP ETF recorded $37.7 million in trading volume on its first day, marking the most successful ETF debut of the year.
- Within just 90 minutes, the fund surpassed $24 million in trading volume, attracting significant attention from institutional investors.
- Futures trading volumes increased by over 120% following the launch, with open interest rising by 5% to $8.94 billion.
- The token briefly surged by 4% in spot trading, testing resistance at $3.10 before settling lower.
- Analyst Zenia projected that the token could rise toward $5 in the near term and potentially reach $15 long-term.
The recent approval of generic listing standards by the SEC has streamlined the approval process for additional crypto ETFs, reducing it from up to240 days to just75 days. This regulatory change is expected to lead to a surge in ETF applications and launches.
Overall, the REX-Osprey XRP ETF’s debut with a record volume of $37.7 million highlights strong market interest and sets a positive tone for upcoming cryptocurrency funds.(Source)
