On Friday, several asset managers updated their applications for XRP-related ETFs following feedback from the U.S. SEC.
Major XRP ETF Filings Resubmitted to the SEC
Asset managers such as Grayscale, Bitwise, and CoinShares have renewed their applications for XRP ETFs in alignment with SEC feedback. These updates may facilitate the approval processes with regulators and attract investments projected between $5 and $8 billion.
XRP's Market Position
XRP is currently trading at $3.02, with a market capitalization of $179.9 billion. The price has risen by 5.80% in the last 24 hours but has decreased by 2.18% over the last week.
Impact on Market and Regulations
The updated ETF structures allow greater flexibility for XRP or cash transactions, improving fund operations in accordance with SEC feedback. This indicates the financial sector's adaptability to evolving regulations. Analysts have regarded these changes positively, suggesting an increase in institutional acceptance of cryptocurrencies.
The updates from asset managers regarding XRP ETFs demonstrate growing institutional interest and have the potential to reshape the cryptocurrency market, providing greater legitimacy and appeal to XRP.
