XRP has surged over $2.8 due to Grayscale's application to convert its XRP fund into a spot ETF, reaching a market cap of $160 billion. While the SEC's acknowledgment of the application doesn't guarantee approval, it signifies progress towards potential integration into traditional finance. The ETF review will take 240 days. Estimated chances of approval before 2025 sit at 65%, raising hopes among institutional investors for regulated crypto access. This could enhance market liquidity and stability, though regulatory hurdles could delay the ETF's approval process.
XRP has experienced a significant price surge over the past week, driven by the recent acceptance of Grayscale's application to convert its XRP fund into a spot ETF.
The evaluation process will be conducted under NYSE Arca Rule 8.201-E, which entails a 240-day review period before making a final decision.
According to recent estimates, the probability of an XRP ETF being approved before 2025 is 65%, fueling expectations among institutional investors.
The potential launch of an XRP ETF could significantly impact the crypto ecosystem, bringing greater liquidity and stability to this asset.
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