The time has come: today the first XRP Exchange-Traded Fund (ETF) is officially traded on the American stock exchange. This finally gives XRP a regulated gateway to Wall Street. The expectation? A wave of institutional interest and possibly a significant impact on the price.
XRP ETF opens doors for big money
The ETF was developed by Canary Capital and will be traded on the US market from today. Investors can now invest in XRP in a regulated manner, without having to hold the coin themselves. The annual management fee is 0.50 percent.
The fund is the first of its kind, but certainly not the last. The XRP ETFs from other financial heavyweights such as Bitwise Invest, Franklin Templeton, 21Shares and CoinShares are also set to launch soon.
Inflow of billions on the way?
Well-known crypto analyst Stern Drew states that “the floodgates are really opening now.” According to him, this ETF launch will change the way XRP is viewed in the financial world. Where it was first seen as a risky niche coin, XRP is now gaining the status of a full-fledged investment instrument.
This shift in perception may lead to other institutional parties also daring to take the step. Something similar happened previously with Bitcoin (BTC), after regulated investment products were introduced.
What does this mean for the XRP price?
The approval and launch of an ETF has previously proven to have a major influence on the prices of crypto coins such as Bitcoin (BTC). Now that XRP becomes available through regulated investment products, this can lead to more trust, larger trading volumes and more attention from traditional media.
The coming days will show how great that impact really is. One thing is certain: the eyes of investors and analysts alike are on Canary Capital’s new XRP ETF today.
Source: https://newsbit.nl/xrp-etf-vandaag-live-gaat-de-ripple-koers-nu-echt-los/
