Bitwise Eyes SEC Verdict on XRP ETF This Quarter
Bitwise Asset Management has made significant moves by updating its XRP ETF filing. The updated application includes a listing on the New York Stock Exchange and details a management fee of 0.34%. These actions signify the final phases required for a potentially successful SEC approval.
“These are typically the final key steps that need to be completed in the ETF application process,” said Eric Balchunas, ETF Analyst, Bloomberg.
This updated filing indicates an imminent decision from the SEC. Should the application be accepted, it would mark a substantial development in the cryptocurrency industry. Market analysts predict this could initiate a fresh wave of institutional investment into XRP.
Responses have been notable within the investment community. Matt Hougan, Bitwise CIO, expressed optimism stating, an XRP ETF would quickly attract substantial assets, as quoted by major sources.
SEC Commissioner, noted that a positive decision could signal openness to new ETF structures.
XRP ETF Approval Could Influence Market Liquidity
XRP, trading at $2.50, holds a market cap of $150.26 billion and a 4.07% dominance. The 24-hour volume is $4.50 billion, marking a 25.34% decrease. Price fluctuations over the past 90 days show a 10.26% drop.
Coincu analysts note that if approved, the Bitwise XRP ETF may trigger new financial opportunities. Regulatory simplicity from auto-approval mechanisms could pave the way for additional ETFs, potentially boosting market stability and liquidity. This development is highlighted in recent insights by Eric Balchunas.