As a seasoned researcher with years of experience in the dynamic world of finance and cryptocurrencies, I find myself intrigued by the latest moves in the crypto ETF market. The filing by 21Shares for an XRP-based fund is a significant step, given the skepticism that has surrounded altcoin ETF demand outside Bitcoin products.
21Shares, in a move that comes amid doubts about the need for cryptocurrency ETFs other than those based on Bitcoin, has submitted paperwork for a fund centered around XRP.
21Shares, a crypto asset manager, has submitted an application for an exchange-traded fund (ETF) focusing on Ripple‘s digital token (XRP). As more investment vehicles for cryptocurrency are being considered by issuers, 21Shares has named its prospective offering the “21Shares Core XRP Trust,” as stated in a document filed with the U.S Securities and Exchange Commission.
21Shares became the second entity to submit formal paperwork for an Exchange-Traded Fund (ETF) based on Ripple’s XRP. Bitwise had previously filed a comparable application in early October, following the establishment of a trust in Delaware for its XRP-focused fund.
Businesses have been interested in exchange-traded funds (ETFs) related to cryptocurrencies that are backed by alternative coins ever since Ethereum (ETH) spot funds first appeared in July. Canary Capital has applied for a Litecoin (LTC) ETF, and there have been persistent whispers about a potential Solana (SOL) ETF in the crypto community’s discussions on social media.
Bitcoin (BTC) ETFs, which represent the leading class in crypto funds worldwide, have demonstrated significant success during their first 11 months of trading. Notably, BlackRock’s IBIT has surpassed established products in terms of year-to-date trading volume, while the entire BTC ETF sector collectively manages over $72 billion in assets.
Compared to Ethereum ETFs, the demand has been relatively low, attracting less than $10 billion from investors. This limited interest in Exchange-Traded Funds (ETFs) based on spot Ethereum has raised questions about whether there is a viable market for altcoin funds on Wall Street.
Matt Hougan, the Chief Investment Officer at Bitwise, expressed that Ethereum ETFs arrived “prematurely,” yet he believes they will eventually thrive. Hougan pointed out that investors are still grappling with Bitcoin’s concept, implying that institutions will eventually comprehend and embrace Ethereum’s value proposition.
Read More
- Cookie Run Kingdom Town Square Vault password
- Maiden Academy tier list
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Wizardry Variants Daphne tier list and a reroll guide
- Girls Frontline 2 Exilium tier list
- Chhaava OTT release: Where is Vicky Kaushal and Rashmika Mandanna’s film expected to stream after theatrical run? Find out
- Get Ready for the Meme Coin Revolution: Dawgz AI Leads the Pack
- Grimguard Tactics tier list – Ranking the main classes
- Tap Force tier list of all characters that you can pick
- Wuthering Waves Version 2.2 – All New Events and Rewards
2024-11-01 20:35