Analyst Nate Geraci has predicted that XRP ETF flows will substantially outperform expectations, echoing a similar prediction that was recently made by Bitwise CIO Matt Hougan.
Hougan believes that a spot XRP ETF will "easily" surpass the $1 billion mark during the first few months.
Earlier this month, Bitwise, Franklin Templeton, 21Shares, WisdomTree, Grayscale, and Canary Capital all introduced S-1 amendments for spot XRP ETFs. This means that the launch of this product is getting close, given that the issuers are now responding to feedback from the US Securities and Exchange Commission.
XRPR's first big milestone
As reported by U.Today, the REX Osprey XRP ETF (XRPR) recently surpassed $100 million. It is considered to be the very first "spot" ETF, even though it used the highly unusual ’40 Act structure, which essentially makes it an investment company.
Promising sign of future demand
Earlier this week, Bitwise Asset Management's spot Solana ETF debuted with extremely impressive trading volume, attracting $70 million worth of inflows during its first day.
Notably, the ETF was launched despite the fact that the SEC was operating in a rather limited capacity due to the ongoing government shutdown. The products managed to slip through because the regulator approved a new generic listing standard for certain altcoins, including SOL and XRP, earlier this year.
The successful debut of the Solana ETF could be a promising sign for spot XRP ETFs, which Geraci believes will enjoy a rather similar reception.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team