
Jakarta, Pintu News – EasyA co-founder Dom Kwok revealed that a Ripple Exchange-Traded Fund (ETF) could trigger the biggest inflow ever in the crypto market. This comes ahead of an expected ruling from the U.S. Securities and Exchange Commission (SEC) in October.
Check out the full information below!
In an interview on the Paul Barron Podcast, Dom Kwok stated that the Ripple (XRP) ETF would likely attract record inflows if approved. He emphasized that Ripple (XRP) has a widespread holder base across the globe.
Kwok also mentioned that the token is only behind Bitcoin and Ethereum in terms of liquidity. Kwok explained that the nominal prices of Bitcoin (BTC) and Ethereum (ETH) often make them less affordable for retail investors.
In contrast, Ripple (XRP) offers a more affordable entry point. He believes this could make Ripple (XRP) the preferred choice for new investors entering the market through ETFs.
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The SEC has delayed their decision on several filings. Initially, the SEC extended the deadline for 21Shares, Grayscale, Bitwise, CoinShares, and Canary Capital. In a separate filing, the Commission set October 19 as the new date for decision making.
Furthermore, the SEC also announced that the rule change proposed by Cboe BZX to list and trade shares of the WisdomTree Ripple (XRP) ETF will extend the review period.
The Commission noted that October 24 has been set as the deadline to approve or reject the proposal. Barring the application from Franklin Templeton, all pending spot Ripple (XRP) funds are now tied to the October deadline.
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Experts project billions of dollars in inflows once the product is launched. It is emphasized that while Bitcoin (BTC) has three ETFs and Ethereum (ETH) one, there are currently more than ten filings for Ripple (XRP).
This automatically means more volume. Additionally, the Ripple (XRP) futures contract has surpassed $1 billion in open interest. It is the fastest futures product to reach that milestone in just three months.
More than $800 million has been invested in the Ripple (XRP) futures-based ETF. This suggests that pent-up demand could turn into massive inflows once the spot product is launched.
The SEC’s decision in October will determine whether Ripple (XRP) will join the small group of cryptocurrencies with spot ETF approval in the US market. With this huge potential, the crypto market may be about to witness one of the most significant events in its history.
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