XRP Price Surges 8% As DTCC Lists Spot ETFs Ahead of Launch

XRP Price Surges Following DTCC’s Spot ETF Listing News

The Depository Trust and Clearing Corporation’s listing of major Ripple ETFs has sent a significant green signal for the token. In response to this strategic development, the XRP price has seen a notable surge of about 8% and exhibits positive signals, indicating a potential recovery from its recent decline.

Now, investors and traders are keenly watching to see if this surprising rally will sustain and lead to a massive bull run.

DTCC Lists Five Ripple Spot ETFs

Spot XRP exchange-traded funds from five major financial institutions have been reportedly listed on the DTCC, fueling anticipation of a US launch later this month. These asset managers include Franklin Templeton, Bitwise, Canary Capital, 21Shares, and CoinShares. The listed products are XRPZ, TOXR, XRP, XRPC, and XRPL, respectively.

According to Canary Capital CEO Steven McClurg, the firm plans to launch its XRPC fund next week. McClurg noted that the no-delay amendment could expedite the ETF's approval within 20 days. With other issuers accelerating their efforts, WisdomTree's ETF is expected to join the DTCC listings soon. In addition, Grayscale is also preparing to launch a spot ETF by converting its existing fund, which has accumulated around $14 million in assets under management since its launch last September.

Bitwise CEO Sees Huge Potential for Ripple ETF

Bitwise CEO Hunter Horsley predicts a Ripple exchange-traded fund would be a big hit if approved, citing strong global interest in the token. Horsley attributes the potential success of the ETF to the token's passionate and active community, which he believes could translate into strong demand for the product, attracting both retail and traditional investors.

In addition, he stated that a Ripple fund could unlock over $100 trillion in traditional assets, allowing them to gain exposure to the token. He noted, “I think if they have the opportunity to have exposure…it’ll be a very useful and high-demand product.” Horsley added,

“Investors are busy, they’re thinking about AI, macroeconomics, government policy, or taking family vacations…So I think that there’s more thought development that will need to take place with Solana, XRP, and Ethereum before consensus emerges on those assets. So I think they’ll continue to be volatile for some time to come.”

XRP Price Surges

In response to the Ripple ETF development, the XRP price has experienced a remarkable uptrend, with the token hitting a weekly high of $2.46. The altcoin has surged by nearly 10% over the past 24 hours, sparking widespread enthusiasm. Over the past week and month, the Ripple coin has been up by 1.82% and 2.5%, respectively.

This uptrend is also reflected in the traders’ activity, with the community increasingly engaging with the token. The 24-hour trading volume has soared by about 45%, reaching an impressive high of $4.1 billion. This indicates that the community is significantly optimistic about the cryptocurrency, which in turn could positively impact the XRP price.