XRP is being evaluated as a strong candidate for the next cryptocurrency ETFs as regulatory approvals are nearing completion.
The court's decision confirming that XRP is not a security has expanded the opportunity for this token to be included in ETFs, especially given its advantages in the financial services and payment sector.
MAIN CONTENT
XRP is considered a potential candidate for ETFs following Bitcoin and Ethereum.
The U.S. court has determined that XRP is not a security, reducing legal barriers for the ETF.
Financial institutions may prefer XRP over other altcoins due to its focus on financial services.
What position does XRP hold in the race to become the next cryptocurrency ETF?
Expert Steven McClurg, CEO of Canary Capital, noted that XRP stands among the top cryptocurrencies considered for inclusion in the ETF as the U.S. Securities and Exchange Commission (SEC) finalizes its asset selection guidelines.
He stated that while Bitcoin and Ethereum have secured their positions, XRP has emerged as the next strong candidate thanks to legal developments and advantages in the application field. This reflects McClurg's deep expertise in analyzing profiles and trends in cryptocurrency ETF development.
How has the U.S. court impacted the future of XRP's ETF?
The court's ruling confirming that XRP is not a security is a significant turning point that helps eliminate the biggest legal hurdle previously. McClurg appreciates this decision, believing it paves the way for XRP to be integrated into the current ETF.
"I firmly believe Ripple is paving a new path in many sectors, and with the connection to XRP, this token will be part of ETFs when the project is deployed."
Steven McClurg, CEO of Canary Capital, 2024
This decision not only sets the stage for XRP but also strengthens investor confidence and contributes to enhancing the token's authority in the potential ETF portfolio.
Why do financial institutions prioritize XRP over Solana and Ethereum?
McClurg analyzes that while individual investors often prefer Solana due to liquidity on exchanges, financial institutions and investment advisors tend to choose XRP for its advantages in payment and financial services.
He predicts that XRP could surpass Ethereum in total assets under management (AUM) in the long term due to its strong focus on solutions that improve transaction speed and costs, which aligns with large institutions.
"XRP possesses many advantages in improving the global payment system, so it will attract significant capital from institutions and may create superior AUM values compared to many other cryptocurrencies."
Steven McClurg, CEO of Canary Capital, 2024
Comparing ETF potential between XRP, Bitcoin, and Ethereum
Criteria Bitcoin Ethereum XRP ETF approved Yes Yes No (under review) Market position Top coin by market cap Top smart contract platform coin Cryptocurrency focused on payment and financial services Key advantage Safety and widespread acceptance Developed ecosystem with diverse DApps Clear legal standing as not a security, high applicability in the financial industry Potential investor group Individual and institutional investors Individual and institutional investors Financial institutions and investment advisors ETF outlook Stable, already deployed Stable, already deployed Strong potential to join due to the legal steps taken
Frequently Asked Questions
Has XRP been approved for an ETF? Currently, XRP does not have an ETF but is a strong candidate thanks to the court ruling that determined it is not a security.
Why is XRP more suitable for ETFs than Solana? XRP focuses on financial payment solutions, which are favored by large organizations compared to Solana, which mainly attracts individual investors.
How does the U.S. Securities and Exchange Commission influence this? The SEC is finalizing regulations, facilitating cryptocurrencies like XRP, Bitcoin, and Ethereum into the ETF portfolio.
Can XRP surpass Ethereum in AUM? Experts predict that XRP may surpass Ethereum due to its advantageous positioning in the financial and payment sectors.
What does the court's ruling on XRP mean? Confirming that XRP is not a security removes important legal barriers for the ETF approval process.
Source: https://tintucbitcoin.com/xrp-sap-vao-nhom-etf-cung-bitcoin/
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