The number of XRP ETFs on the DTCC website has increased even as these funds prepare for launch. Expert Nate Geraci noted that the first ‘33 Act XRP ETF could launch this week, which is a positive for XRP.
Record XRP ETFs Now Listed On The DTCC Website
DTCC data shows that nine XRP ETFs have now been listed on the site, which signals the readiness of some of these funds ahead of a possible launch this month. These ETFs include funds by Bitwise, Canary Capital, Franklin Templeton, Volatility Shares, 21Shares, CoinShares, and Amplify.
Notably, the funds from Bitwise, Canary, 21Shares, CoinShares, and Franklin Templeton are spot XRP ETFs that are preparing to launch. Bitcoinist had earlier reported that Canary Capital’s XRP fund could launch by November 13 after the asset manager filed an amendment that removed the delaying amendment on its registration statement.
Now, the asset is set to launch its XRP ETF with its 8-A filing showing approval to list on the Nasdaq. As market expert Nate Geraci noted, the Canary fund would be the first ‘33 Act XRP spot ETF to launch. Asset manager REX Osprey had earlier launched an XRP spot ETF under the ‘40 Act, but the fund doesn’t 100% spot XRP.
Meanwhile, XRP spot ETF issuers Bitwise and Grayscale have also amended their S-1 filings, signaling their intention to launch soon. All spot XRP funds could also launch soon, with the U.S. government shutdown likely to end as early as this week.
The Senate has already passed the funding bill, meaning the SEC could resume fully by next week and proceed to approve the pending ETF applications. Geraci also confirmed that an end to the shutdown would open the floodgates for crypto ETFs. There are seven pending XRP spot ETFs that could all launch once the U.S. government shutdown ends.
XRP Surges Over 12% Amid ETF and Government Reopening Optimism
The XRP price surged over 12% on November 10 amid optimism over the XRP spot ETF launch and the reopening of the U.S. government. The launch of the XRP funds could drive more liquidity into the XRP ecosystem, which is bullish for its price. Moreover, Canary Capital CEO Steven McClurg has predicted that the XRP funds could see up to $5 billion in inflows in their first month.
Market research firm Sistine Research noted that XRP’s recent performance isn’t surprising considering that developments such as the potential Ripple banking license approval, CLARITY Act, and ETFs all benefit the altcoin more than any other major crypto asset.
At the time of writing, the XRP price is trading at around $2.48, up in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
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