Cboe BZX files XRP ETFs : Is $XRP etf approval date coming soon?

Cboe BZX Files XRP ETFs – What Will Be Its Impact on $XRP Price?

Cboe BZX Files for XRP ETFs: A New Era for Cryptocurrency Investments 

Cboe BZX Exchange has filed a 19b-4 application on behalf of four asset managers four asset managers—Canary Capital, WisdomTree, 21Shares, and Bitwise—in a historic move for the cryptocurrency market that aims to create the first spot XRP ETFs in the United States. The timing of these filings amid XRP's tumultuous journey, being the fourth-largest cryptocurrency in terms of market capitalization, is significant considering how the cryptocurrency is held in limbo looking for regulatory clarity. 

XRP ETF Approval on the Horizon?

The filings signal renewed interest in XRP ETFs, especially following the SEC’s approval of Bitcoin and Ethereum ETFs earlier this year. With acting SEC Chair Mark Uyeda seen as more crypto-friendly, the chances of XRP ETF approval appear stronger. The filings are particularly important, as they place the SEC on notice of proposed changes to its rules that, if adopted, would see the first U.S. XRP ETFs realized.

Market sentiment and the regulatory environment

Asset managers are proactively interacting with regulators. In order to preserve market integrity and investor safety, the overall aim is to source XRP from the secondary market rather than Ripple Labs. Given the SEC's ongoing appeal in the Ripple Labs case, which aims to ascertain whether XRP is a security, this is very pertinent.

Nevertheless, despite the regulatory obstacles, market analysts remain optimistic. According to JPMorgan, spot XRP ETFs may draw an additional $4 billion to $8 billion in new assets in the first year following debut. The recent price performance of XRP, which is currently valued at $2.31 after declining 5.93% over the past day, reflects this optimism.

Future XRP Price Predictions

According to forecasts, XRP will probably trade between $3.50 and $5.00 by the end of 2025, subject to a few significant market shifts. A favorable verdict in Ripple's legal battle and growing institutional usage of XRP's On-demand Liquidity (ODL) platform are the two main conditions for the adjustments.

The entire process of setting in motion the 45-day review period by the SEC will have to greatly affect whether the approval will be granted to XRP ETFs in the coming weeks. If they are approved, it will eventually act as a doorway for XRP into proven financial markets.