The push for the approval of the Spot XRP ETF is receiving significant attention from many leading asset managers.

Many financial institutions have submitted new applications to the SEC, opening up opportunities for XRP-based ETF products to meet investor demand. This could help accelerate the decision ahead of the upcoming October deadline.

Seven major asset managers have collectively updated their XRP ETF applications to the SEC.

The approval deadline in October puts pressure to accelerate the SEC's decision.

The 7% price increase of XRP reflects positive expectations from the market.

How does October affect the XRP ETF approval decision?

The deadline for the SEC to approve the XRP ETF product in October is creating significant pressure on regulators. Analysts say this is an important factor in accelerating the review process.

Fox journalist Eleanor Terrett notes that the new filings submitted to the SEC are a direct response to opinions from the agency. Bloomberg ETF analyst James Seyffart emphasizes that the new proposals have improved flexibility in creating and redeeming ETF shares, making them more aligned with management expectations.

This not only reflects the thorough preparation of asset managers but also increases the likelihood of the SEC agreeing to approve the Spot XRP ETF in the near future.

What does Nate Geraci think about the consensus among asset managers?

Nate Geraci, president of NovaDius Wealth and a prominent ETF expert, believes that the collective action of seven managers is a very significant sign. This coordination creates a joint force that could pressure the SEC to delay its decision.

Although there is no guarantee that the SEC will approve immediately, this is an important step reinforcing the view that sooner or later the XRP ETF product will be approved, benefiting investors and the cryptocurrency market.

What does BlackRock's absence in the current XRP ETF market mean?

Although BlackRock is the largest asset management company in the world and leads in Bitcoin ETF and Ethereum, there are currently no plans to launch an ETF product based on XRP. This opens up opportunities for other issuers to dominate the market first if the SEC agrees.

BlackRock's absence opens up opportunities for competitors, while also helping to diversify the supply of XRP ETFs, contributing to an increase in capital flows into this asset class.

How did XRP react to the information about the XRP ETF?

In the context of the evolving cryptocurrency market, XRP has risen 7% in the recent trading session, reaching $3.08. This surge is seen as a reflection of positive expectations from investors ahead of positive updates on the ETF.

The price increase comes not only from news but also from the ability of institutional capital to shift strongly through ETF products, thereby driving the popularity and widespread adoption of XRP in the near future.

"The collective coordination of asset managers creates significant pressure on the regulator to consider approving the XRP ETF sooner."

- Nate Geraci, President of NovaDius Wealth, 2024

Frequently Asked Questions

What is the XRP ETF and why is it important?

The XRP ETF is an investment fund traded based on the value of XRP, facilitating easier and more transparent investment for both individual and institutional investors.

Why is the October deadline important for the XRP ETF?

This is the time for the SEC to make a decision to approve or reject the XRP ETF application, directly affecting the market and investors.

Which financial asset managers are involved in this round of applications?

Seven major organizations including Grayscale, Bitwise, Canary, CoinShares, Franklin Templeton, 21Shares, and WisdomTree have submitted updated applications.

How did XRP react after the ETF news?

XRP has risen 7% to $3.08, reflecting positive sentiment and expectations from the market regarding the potential approval of the ETF.

What are BlackRock's plans with the XRP ETF?

Currently, BlackRock has no plans to announce an XRP ETF product, focusing on Bitcoin ETF and Ethereum.

Source: https://tintucbitcoin.com/xrp-etf-tang-manh-nho-7-quy-thuc-sec/

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