October promises to be a crucial month for Ripple (XRP). The American stock market watchdog SEC then makes several decisions about applications for a spot XRP ETF. According to analysts, this can lead to a breakthrough moment for the coin, or to considerable disappointment.
XRP ETF approval: what’s at stake?
A spot ETF can cause enormous capital inflow and broader legitimacy for XRP. This was already apparent in Brazil and Canada, where similar products attracted tens of millions in a short time. The Canadian 3IQ fund passed the $ 50 million border in a month.
In the US we saw a similar effect earlier this year. The Rex-Osprey XRP ETF closed its first trading day with a volume of $ 37.7 million. That is considerably more than most ETFs on their first day, and even five times as much as all existing XRP-Futures ETFs together.
If the American supervisor approves a spot XRP ETF, it can open the door for inflow of institutional capital on a scale that we have never seen at XRP before.
Decisive dates in October
In the coming month, it is the turn of several applications. This is the schedule of expected decisions by the SEC:
- Grayscale – 18 Oktober
- 21shares – October 19
- Bitwise – 20 Oktober
- Canary Capital – 23 Oktober
- Wisdomtree – October 24
- Franklin Templeton EN Coinshares – October 25
Never before have so many XRP ETF applications on the agenda in such a short time. This increases the pressure and the expectations from the market.
What does this mean for the XRP course?
If the SEC approves one or more requests, it can become a catalyst for a new price rally. The examples from abroad suggest that investors get along en masse as soon as an ETF becomes available.
In the American market, the potential is many times higher. Institutional investors manage trillions of dollars there, and a spot ETF offers them a direct and regulated access to XRP.
A turning point can therefore mean in the coming weeks. October will be the month in which the XRP rate makes or a big leap, or will be under pressure if the applications are rejected.
Source: https://newsbit.nl/game-changer-oktober-kan-beslissend-worden-voor-de-xrp-koers/
