SEC Ignites Crypto Market with Game-Changing Approval of Grayscale’s ETF
The Securities and Exchange Commission just dropped a bombshell—Grayscale’s crypto ETF is a go. Cue the market frenzy.
Why it matters: This isn’t just another regulatory nod. It’s a watershed moment for institutional crypto adoption, wrapping Bitcoin’s volatility in a shiny, SEC-approved package.
The irony? Wall Street’s latest 'innovation' is literally a bet on decentralized tech. TradFi finally found a way to love crypto—by making it look exactly like traditional finance.
$107,640, Ethereum
$2,454, Solana
$150, Cardano
$0.559094, and XRP. This decision marks the birth of the largest multi-cryptocurrency ETF globally, opening a new chapter in the regulatory landscape. The approval has bolstered expectations of rapid evaluation and approval of applications for individual spot altcoin ETFs, a sentiment particularly visible among XRP investors.
ContentsDetails of SEC’s Approval for GrayscaleCrucial Levels for XRP Amid Anticipated Spot ETF Approval
Details of SEC’s Approval for Grayscale
The approved ETF will hold five leading cryptocurrencies in a single portfolio and trade on traditional exchanges, providing investors with a diversified crypto investment opportunity without the complexities of asset storage. The ETF’s volume is expected to surpass competing multi-products on its first trading day.
Market analysts suggest that the SEC’s approval for such a comprehensive ETF paves the way for individual spot ETF approvals for altcoins like XRP, Solana, and Cardano. This development establishes a structural foundation that eases institutional capital flows into the cryptocurrency market.
Crucial Levels for XRP Amid Anticipated Spot ETF Approval
Following the decision, XRP overcame strong resistance around the $2.19–$2.20 range, gaining quick momentum. Currently, XRP is attempting to maintain this zone as support. If maintained, the first target is set at $2.25, with the potential to advance to $2.32–$2.35.
According to analyst Casi Trades, increased selling pressure at $2.30 pushed the price below $2.25, but XRP continues to hold in the $2.18–$2.16 band. A break below this range could bring $2.05 and $1.90 supports into focus. Conversely, regaining $2.25 could lead to an upward momentum extending to $2.69. Furthermore, an individual spot ETF approval by the SEC for XRP could propel its price to $3 and beyond.
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