In a notable development, last week. Data of CoinShares reveals that a staggering $2.2 million was flooded into XRP-related products, a substantial jump from $900,000 the previous week.
In a notable development, last week. Data of CoinShares reveals that a staggering $2.2 million was invested in XRP-related products, a substantial jump from $900,000 the previous week.
This rise coincided with growing speculation that XRP could be the next cryptocurrency to follow Bitcoin’s lead and secure its spot ETF. Industry experts and financial analysts have hinted at the possibility, highlighting that the official recognition of XRP as not a security brings new legal clarity that may facilitate its entry into the ETF market.
Larry Fink, CEO of Blackrock, added fuel to the speculative fire when asked about the potential of an XRP ETF, offering a cryptic answer that only intensified the market rumors. While he refrained from providing explicit details, his enigmatic response suggested there could be more to the story than meets the eye.
XRP ETPs
The influx of funds into XRP investment products also cements its position as the second-best performer among altcoins in 2024, behind only Cardano (ADA). In total, XRP ETPs have seen an impressive $3.1 million in inflows, further substantiating their popularity among investors.
As market dynamics continue to evolve, the possibility of an XRP ETF remains a focal point of discussion both within crypto circles and traditional financial spheres. The surge in fund inflows underscores growing confidence in XRP’s potential and anticipation surrounding its potential entry into the ETF market, signaling a pivotal moment for the cryptocurrency.
