XRPLedger, the underlying technology behind the cryptocurrency XRP, has witnessed a significant milestone with over 5.02 million distinct wallets holding more than 0 XRP coins.
This marks the highest number of wallets in the 10+ years of XRPLedger’s public trading history. The growth in wallet adoption reflects the expanding network and growing interest in XRP.
📈 #XRPLedger now has 5.02M distinct wallets that hold more than 0 $XRP coins, the most in its now 10+ years of public trading years. The #6 asset in #crypto by market cap has more than doubled such wallets in 3 years (+104%) as the network expands. https://t.co/YZBcHsOuSS pic.twitter.com/o0m6PKE0Re
— Santiment (@santimentfeed) January 27, 2024
In the past three years, the number of XRP wallets holding more than 0 coins has more than doubled, showing a remarkable 104% increase. This surge highlights the increasing popularity and utilization of XRP as a digital asset.
Talks Around A Possible XRP ETF Approval In The Future
Discussions surrounding the potential approval of an XRP Exchange-Traded Fund (ETF) are underway. Crypto journalist Eleanor Terrett emphasizes that the establishment of a futures ETF is a necessary precursor to a spot ETF for XRP.
Similar to the SEC’s determination regarding the adequacy of the CME bitcoin futures market for surveillance against fraud and manipulation, a futures ETF for XRP would pave the way for regulatory approval of a spot ETF.
In order to have an $XRP spot ETF, there will first need to be a futures ETF.
Part of getting the $BTC spot ETFs approved was the @SECGov concluding that the CME bitcoin futures market would suffice to provide surveillance for fraud and manipulation.
If $XRP gets a futures ETF… https://t.co/MPFVSherXK
— Eleanor Terrett (@EleanorTerrett) January 27, 2024
Terrett views the introduction of a futures exchange-traded fund (ETF) for XRP as a positive step towards securing approval for a spot ETF in the future. This regulatory development could enhance accessibility to XRP as an investment asset and contribute to its broader adoption within the financial markets.
As discussions progress and regulatory frameworks evolve, stakeholders closely monitor developments surrounding XRP ETF approvals. The potential approval of an XRP ETF could further validate the cryptocurrency’s status as a mainstream investment option and shape its trajectory in the financial landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.