Dom Kwok, co-founder of EasyA, emphasizes that XRP ETFs could surpass other crypto-related exchange-traded funds in terms of inflows. As multiple spot XRP ETF applications approach their final decision deadlines, Kwok has made bold claims about the potential of the investment product. XRP ETFs Could Be the Biggest in Crypto During an interview on the Paul Barron Network (PBN) podcast, Kwok suggested that if the U.S. SEC approves the XRP ETFs, they could attract the largest inflows of any other crypto ETFs. His reasoning is based on XRP’s global holder base, which he believes is among the largest in the crypto industry. Factors Indicating Strong Demand for XRP ETFs Indeed, XRP remains among the most actively traded cryptocurrencies in the market. Its daily trading volume sits at $6.6 billion, with nearly $6.5 billion of that coming from centralized exchanges. Given XRP’s massive volume, some experts believe that demand for spot XRP ETFs could surge if the SEC approves them. Another factor fueling this belief is the cryptocurrency’s recent milestone on the CME. As previously reported, XRP made history on CME after it became the fastest cryptocurrency to hit an open interest of $1 billion. This comes just three months after XRP futures contracts made their debut on the leading derivatives marketplace. The rapid success of CME’s XRP futures is seen as proof of a growing institutional appetite for the token. Amid this, Kwok expresses that XRP could attract the largest inflows and eventually become the biggest crypto ETF. Current Performance of Crypto ETFs For context, Bitcoin and Ethereum are currently the only cryptocurrencies with standalone ETFs in the United States. While Bitcoin ETFs have attracted a total of $54.16 billion in inflows, Ethereum ETFs have garnered $13.65 billion. Several asset managers, including Canary, Grayscale, and Bitwise, are vying to launch other spot crypto ETFs in the U.S., with 11 of them focused on XRP. The SEC will issue its final decision on some XRP ETF applications in October. Data from Polymarket indicates that XRP has an 84% chance of being approved for an ETF by the end of this year. Meanwhile, whether the product will outperform other crypto ETFs in terms of inflows remains to be seen.
“Tokenization Is the Biggest Innovation in Capital Markets": Vlad Tenev Pushes Robinhood Beyond Stocks
1 hour ago
Bitcoin Will Reach $190K in This Quarter: Tiger Research
1 hour ago
Bitcoin, exchange inflows at a 27-month low: risk of explosive movements
1 hour ago
OKX Japan Receives Full FSA Approval, Ranks Top 3 in Country
1 hour ago
Memecoin Scam Unveiled: South Korea Police Arrest Three in Shocking
1 hour ago
ARK Invest Buys $15.6M Shares of Ether Treasury Firm Bitmine
1 hour ago