What happened?
The REX-Osprey XRP ETF, XRPR, is set to launch this Friday, becoming the first issuer to offer regulated spot exposure to XRP in U.S. traditional finance markets. This move has been facilitated by the SEC’s green light and industry figures predict an influx of $8 billion within the first year.
Who does this affect?
This development affects XRP investors, potential investors, and asset managers including Franklin Templeton, who face a final decision in October. In addition, institutions that have held onto their capital waiting for regulatory clarity could potentially begin investing in XRP.
Why does this matter?
This matters because it paves the way for increased demand in the altcoin, potentially triggering a parabolic setup. The ETF could give XRP the momentum it needs to confirm a breakout of a bull flag pattern formed since mid-July. This could stimulate new demand for risk assets like XRP and extend XRP’s presence in U.S. financial markets.