The crypto community is buzzing with excitement as the potential approval of XRP exchange-traded funds (ETFs) looms this October. With major asset managers poised to enter the market, expectations for significant capital inflows are on the rise, and the publication demonstrates positive momentum in the developments.
Regulatory Clearance for XRP ETFs
Prominent firms such as Grayscale, Canary Capital, 21Shares, and Bitwise are currently awaiting regulatory clearance to launch their XRP ETFs. Steve McClurg, CEO of Canary Capital, has notably increased his inflow projections from $5 billion to a staggering $10 billion for the first month of trading, reflecting the heightened enthusiasm surrounding these financial products.
Market Impact and Price Predictions
Analysts are optimistic that if these inflows materialize, XRP's market capitalization could see a substantial boost. Some forecasts suggest that the price of XRP could rise to approximately $12 per token, driven by the anticipated demand from institutional investors entering the market through ETFs.
