According to a recent report by COINOTAG News, dated April 15th, analysts from Kaiko have highlighted that enhanced market liquidity and Teucrium’s launch of a 2x leverage product have significantly boosted the position of XRP. Following Bitcoin and Ethereum, XRP is poised as a prime candidate for the next spot ETF approval from the U.S. Securities and Exchange Commission (SEC). The shifting dynamics at the SEC, marked by the anticipated appointment of Paul S. Atkins as chair, suggest a more crypto-friendly climate following the resignation of Gary Gensler. This transition has led to a surge in crypto-related ETF applications from notable asset management firms such as Bitwise, Grayscale, and VanEck.
As per Kaiko’s findings, XRP currently dominates the ETF application landscape with an impressive total of 10 filings, surpassing the Solana ETF, which has 5. Meanwhile, Litecoin and Dogecoin each trail with 3 applications. XRP’s robust market position is further evidenced by its top-tier average altcoin market depth across leading centralized exchanges, underscoring its liquidity. This level of trading activity not only stabilizes the market but also mitigates slippage risks, marking XRP as an asset with considerable buying and selling interest. The report emphasized the importance of liquid spot markets for fostering efficient financial products.