CryptoXRP ETF Inflows Will Surprise Many Once Approved, Predicts...

XRP ETF Inflows Will Surprise Many Once Approved, Predicts Former US Senate Candidate

-



John E. Deaton, a cryptocurrency-focused lawyer who ran against Elizabeth Warren for a Senate seat in Massachusetts, believes XRP ETFs will attract substantial inflows once these products are greenlighted by the US Securities and Exchange Commission.

The number of active applications continues to grow, with the most recent one aiming to launch a Monthly Option Income ETF focused on Ripple’s native token.

A Lot of Filings

Deaton’s comments came in response to the Wolf of All Streets’ remarks that the total number of applications for spot Ripple ETFs has grown to 15. However, that information is a bit dated as another filing reached the US SEC desks this week.

As reported yesterday, Amplify ETFs filed for an XRP Monthly Option Income ETF, which will work differently from a spot one. It doesn’t rely so much on big gains for the underlying asset. Instead, it uses trading strategies to generate steady, predictable, but capped monthly income for its investors.

Despite the increasing number of applications, the US regulator continues to delay making a decision on almost all of them. The next major deadlines are scheduled for October, following the SEC’s request for comments from issuers, which has led to recent filing updates.

Inflows Will Indeed Surprise You?

Although Deaton wasn’t specific whether the inflows will surprise investors in a positive manner, it’s safe to assume so, given his history with the XRP Army. After all, he was among the most prominent attorneys representing XRP holders in the legal battle between the SEC and Ripple.

Obviously, that’s up for debate since the ETFs are not officially approved. However, there has indeed been notable demand for XRP, which was evident from the futures ETFs as well as the recent record for the asset on CME futures.

So far, we have seen only two cryptocurrencies with spot exchange-traded funds tracking their performance. The market leader started with massive inflows since the BTC ETFs’ inception in January 2024. In contrast, the ETH ETFs had a sluggish start, and they picked up the pace almost a year later.

For now, the XRP Army is left with having to wait for an official SEC decision, but the crowd seems to be quite optimistic with odds on Polymarket surging to 87% for an approval by the end of the year.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

[LIVE] Crypto News Today, September 1 – Bitcoin Price Holds Above $108K, And Trump’s WLFI Launches On Major Exchanges – Best Crypto to...

The crypto market opened September 1 in the red, leaving many investors asking what is the best crypto...

How Tether-backed Twenty One plans to rival MicroStrategy

Tether-backed Twenty One’s plan to acquire over 42,000 BTC sounds not unlike Michael Saylor’s leveraged BTC acquisition strategy. Source...

Lovable’s CEO isn’t too worried about the vibe-coding competition

Every seat in Copenhagen’s Bella Center was full as Anton Osika, the co-founder of the vibe coding app...

Former Indian Lawmaker, Police Officer Convicted in Bitcoin Extortion Case

An Indian court has convicted 14 individuals, including a former lawmaker and a former police superintendent, for extorting...

Advertisement

Bitcoin Price Recovers From 2-Month Low, TRUMP Coin Rockets 8% Daily: Market Watch

Bitcoin’s adverse price actions took the asset south to $107,000 hours ago, but it managed to react well...

Tether thinks Jack Mallers will keep focus on Twenty One’s BTC, not USDT

Jack Mallers will serve as the dual CEO of Strike and Twenty One. His new venture already has...

Must read

How Tether-backed Twenty One plans to rival MicroStrategy

Tether-backed Twenty One’s plan to acquire over 42,000...

You might also likeRELATED
Recommended to you