KEY POINTS
- Some industry analysts expect $XRP ETFs to haul in hundreds of millions if approved for trading
- The projections came as the SEC acknowledged a filing for Bitwise's spot $XRP ETF
- Bloomberg analysts previously gave $XRP ETFs a 65% chance of getting approved
The U.S. Securities and Exchange Commission (SEC) has acknowledged some filings for XRP exchange-traded funds (ETFs), fueling conversations about what an XRP ETF approval could mean for the broader cryptocurrency market.
For some industry analysts, XRP ETFs could have a massive contribution to the market, especially in the first week.
How Much Will $XRP ETFs Haul In After Approval?
Luca Sorlini, head of products at virtual asset service provider Northstake, said that he believes "a reasonable range would be between $400 million and $800 million in the first week," once XRP ETFs are approved.
He did note that his projection will rely on various factors, including overall market conditions, the number of rival ETFs that will launch simultaneously if approved at the same time, and more importantly, institutional interest in the offering.
Gabe Selby, the research head at crypto index provider CF Benchmarks, also had a fairly similar projection, saying XRP ETFs can possibly bring in positive inflows of "nine figures."
$XRP ETF Acknowledgements Roll In
The projections came just as the SEC acknowledged the 19b-4 filing for Bitwise's spot XRP ETF. Last week, the regulator also acknowledged a filing for Grayscale's XRP ETF proposal.
NEW: As expected, the SEC just acknowledged @CBOE & @BitwiseInvest's XRP ETF filings pic.twitter.com/taCdggZljc
— James Seyffart (@JSeyff) February 18, 2025
Acknowledgments from the SEC don't mean the crypto ETFs are good to go, but they mark a significant step toward getting the proposed ETFs on the market.
Will $XRP ETFs be Approved for Trading?
There's never clear assurance around crypto products, especially with lingering doubts about the speculative nature of such assets.
On the other hand, hopes have been increasing than never before following the electoral victory of U.S. President Donald Trump, who promised he will rejuvenate the U.S. crypto industry.
Ripple, the tech company overseeing the development of the XRP Ledger, is a U.S.-based firm. Ripple CEO Brad Garlinghouse has already met Trump and even had a meeting with some lawmakers last year.
The leadership change at the SEC following former Chair Gary Gensler's resignation has also reignited hopes for XRP to once again become a major threat to Bitcoin and Ethereum.
For Bloomberg senior ETF analysts James Seyffart and Eric Balchunas, there is a 65% chance XRP ETFs will be approved. There's also the unresolved question on the XRP token's status as a security or a commodity.
On the other hand, the prediction of Bloomberg analysts was made before news of the SEC's acknowledgements came through.
It remains to be seen whether odds for XRP ETFs' approval will increase as more positive news around the world's third-largest cryptocurrency come through.
