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BitcoinSistemi 2025-04-15 21:10:07

Research Firm Announces Prediction for the Next Altcoin to Receive Spot ETF Approval in the US

According to analysts at crypto research firm Kaiko, XRP could be the next cryptocurrency to receive spot ETF approval in the United States, with superior market liquidity and the recent launch of a leveraged XRP product being key factors that set the asset apart from its rivals. Following the successful approval of spot Bitcoin and Ethereum ETFs, asset managers including Bitwise, Grayscale, and VanEck have accelerated applications for additional crypto-related ETFs. The timing is particularly notable, analysts say, as former SEC Commissioner Paul Atkins, widely considered crypto-friendly, is set to replace Gary Gensler as Chairman following Senate confirmation. According to Kaiko data, XRP leads the way in active ETF applications with 10, ahead of Solana (5), Litecoin (3), and Dogecoin (3). Analysts cite XRP’s high market depth of 1% on major centralized exchanges, a key measure of liquidity, as a key factor. “A highly liquid spot market is critical to building efficient structured products,” Kaiko said in a report, noting that former SEC leadership placed significant weight on the metric. Related News: Here are the Altcoins Developers Focused on the Most in the Last 30 Days, There Are Surprises - Here's the List XRP’s market depth has increased sharply towards the end of 2024, surpassing Solana and doubling Cardano’s depth. This increase coincided with Donald Trump winning the presidential election, which has fueled market speculation that a resolution to the SEC’s long-running case against Ripple may be imminent. Ripple CEO Brad Garlinghouse confirmed in March that the legal dispute was over, but negotiations for a final resolution are still ongoing. Another factor supporting XRP’s ETF prospects is the launch of Teucrium’s leveraged XRP ETF (XXRP) last week. The product aims to offer twice the daily returns of XRP using derivatives like futures and swaps, making it the first XRP ETF in the US, albeit not a spot fund. Additionally, Kaiko notes that the XRP options market is trending bearish on Deribit, indicating demand for downside protection, though analysts attribute this to macroeconomic uncertainty rather than ETF-specific sentiment. *This is not investment advice. Continue Reading: Research Firm Announces Prediction for the Next Altcoin to Receive Spot ETF Approval in the US

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