XRP Surges as US Government Shutdown Nears End and ETF Listings Appear

The cryptocurrency community is buzzing with excitement over potential XRP exchange-traded funds (ETFs) as the US Senate moves towards resolving the longest government shutdown in history. The Senate has reportedly reached an agreement on a budget bill that could end the shutdown, creating a positive atmosphere in various markets, including cryptocurrency. XRP's price has jumped over 12% within 24 hours, trading at $2.56 at the time of writing.

Key Takeaways

The US Senate has reached a deal to potentially end the government shutdown.
XRP's price has increased by over 12% as a result.
Eleven XRP ETFs are listed on the Depository Trust and Clearing Corporation (DTCC).
The market is enthusiastic about the imminent launch of XRP ETFs, though regulatory approval is still pending.

The Surge in XRP Price

Market enthusiasm surged when the Senate announced progress on a budget deal to resolve the prolonged government shutdown. This news has generated a positive momentum across various markets, including the cryptocurrency sector. The XRP community is particularly optimistic as they anticipate the imminent introduction of multiple XRP ETFs.

According to CoinGecko, XRP's price has shot up more than 12% in the last 24 hours, reaching $2.56.

11 XRP ETFs Visible on DTCC Website

As of Monday, the DTCC's website listed 11 ETFs related to XRP under its “active and pre-launch” category. These products are offered by notable firms such as 21Shares, ProShares, Bitwise, Canary Capital, Volatility Shares, REX-Osprey, CoinShares, Amplify, and Franklin Templeton.

Although a listing on DTCC does not confirm that the ETFs have officially launched or that they will receive regulatory approval, it indicates that the necessary infrastructure for trading these ETFs on US markets is in place.

List of XRP Products on DTCC Website
Source: DTCC

Notably, Grayscale's XRP Trust (GXRP) is not featured in the current DTCC listing, and WisdomTree has not yet introduced an XRP fund.

“Government shutdown ending = spot crypto ETF floodgates opening,” tweeted ETF expert Nate Geraci on Sunday. He also suggested that the first “33 Act spot XRP ETF could potentially debut this week.”

Institutional Interests Renewed

Bloomberg ETF analyst Eric Balchunas remarked on Twitter that the conclusion of the shutdown would likely lead to a resurgence in institutional buying alongside optimism around ETF launches.

He highlighted that the SEC had been involved in litigation against Ripple for nearly five years until just three months ago. In his view, the introduction of spot XRP ETFs symbolizes a milestone in overcoming previous regulatory challenges.

Ripple, SEC, XRP, ETF, Policy
Source: Nate Geraci

Additionally, Canary Capital expressed on Friday that its XRP ETF is “coming soon,” with speculations about its launch possibly occurring by the end of this week.

This article reflects the growing optimism within the cryptocurrency community, particularly regarding XRP and the potential introduction of its ETFs amid changing regulatory landscapes.