{"id":31064,"date":"2024-10-16T20:00:36","date_gmt":"2024-10-16T17:00:36","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=31064"},"modified":"2024-10-16T18:11:07","modified_gmt":"2024-10-16T15:11:07","slug":"potential-xrp-etf-approval-receives-markets-attention","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/potential-xrp-etf-approval-receives-markets-attention\/","title":{"rendered":"Potential XRP ETF Approval Receives Markets Attention"},"content":{"rendered":"<p>Following the launch of spot Bitcoin and Ethereum ETFs, interest is growing around the potential for an XRP ETF, with investors eagerly anticipating its debut. Tim McCourt, senior managing director at CME Group, stated that the first major step toward an XRP ETF has been taken with the establishment of an XRP reference rate and real-time index. These are critical components for building out the ecosystem, providing regulated benchmarks for product providers like Bitwise.<\/p>\n<p><em>Might interest you: <a href=\"https:\/\/coinengineer.net\/blog\/what-is-babydoge\/\">What is BabyDoge?<\/a><\/em><\/p>\n<p>This comes shortly after the U.S. Securities and Exchange Commission received its second application for an XRP ETF from Canary Capital, following Bitwise Asset Management&#8217;s filing. McCourt emphasized that the introduction of cryptocurrency ETFs has significantly accelerated the growth of the industry, as demonstrated by the increased activity in futures and open interest.<\/p>\n<p>While Bitcoin and Ethereum have seen substantial price gains since the introduction of their ETFs, XRP\u2019s price has been relatively subdued, increasing by just over 8% in the past year compared to Bitcoin\u2019s 154% rise. However, the launch of an XRP ETF could potentially provide a similar boost to its price, as was seen with Bitcoin, where spot ETFs drove a significant portion of new investment, pushing Bitcoin past the $50,000 mark in early 2024.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" rel=\"nofollow\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following the launch of spot Bitcoin and Ethereum ETFs, interest is growing around the potential for an XRP ETF, with investors eagerly anticipating its debut. Tim McCourt, senior managing director at CME Group, stated that the first major step toward an XRP ETF has been taken with the establishment of an XRP reference rate and<\/p>\n","protected":false},"author":6,"featured_media":17419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[509,7538,39,506,5177,3889],"class_list":["post-31064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-ripple","tag-ripple-sec","tag-sec","tag-xrp","tag-xrp-ripple","tag-xrp-etf"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Potential XRP ETF Approval Receives Markets Attention - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/potential-xrp-etf-approval-receives-markets-attention\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Potential XRP ETF Approval Receives Markets Attention - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Following the launch of spot Bitcoin and Ethereum ETFs, interest is growing around the potential for an XRP ETF, with investors eagerly anticipating its debut. Tim McCourt, senior managing director at CME Group, stated that the first major step toward an XRP ETF has been taken with the establishment of an XRP reference rate and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/potential-xrp-etf-approval-receives-markets-attention\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-16T17:00:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-16T15:11:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/xrp_0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/potential-xrp-etf-approval-receives-markets-attention\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/potential-xrp-etf-approval-receives-markets-attention\/\",\"name\":\"Potential XRP ETF Approval Receives Markets Attention - 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