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The Research Company has announced its prediction for the next altcoin that will receive Spot ETF approval in the USA!
According to analysts at the crypto research firm Kaiko, XRP could be the next cryptocurrency to receive spot ETF approval in the US, distinguishing itself from other competitors due to its superior market liquidity and the upcoming launch of a leveraged XRP product.
Following the successful approval of the spot Bitcoin and Ethereum ETFs, asset managers such as Bitwise, Grayscale, and VanEck have stepped up applications for additional crypto-related ETFs. Analysts say the timing is particularly noteworthy as former SEC Commissioner Paul Atkins, who is widely regarded as crypto-friendly, is set to replace Gary Gensler as Chairman following Senate confirmation.
According to Kaiko data, XRP leads the way in active ETF applications with 10 applications, leaving (3) behind Solana (5 başvuru), Litecoin (3) and Dogecoin. Analysts point to XRP's high market depth of 1% on major centralized exchanges, which is a key measure of liquidity, as a crucial factor. "A spot market with high liquidity is important for building efficiently structured products," Kaiko said in a report, noting that former SEC leadership has given significant weight to this metric.
The market depth of XRP showed a sharp increase towards the end of 2024, surpassing Solana and doubling the depth of Cardano. This increase coincided with Donald Trump's victory in the presidential elections, which also heightened market speculation that a resolution in the SEC's long-standing case against Ripple could be near. Ripple CEO Brad Garlinghouse confirmed in March that the legal dispute had ended, but negotiations for a final resolution are still ongoing.
Another factor supporting XRP's ETF expectations is the launch of the leveraged XRP ETF by Teucrium last week, which was released in the (XXRP) market. The product aims to offer twice the daily return of XRP by using derivatives such as futures and swaps, making it the first XRP ETF in the US, even though it is not a spot fund.
In addition, Kaiko notes that the XRP options market has shown a downward trend on Deribit, indicating a demand for downside protection; however, analysts attribute this to macroeconomic uncertainty rather than ETF-specific sentiment.