XRP Rockets 8% as DTCC Greenlights Spot ETFs – Institutional Floodgates Opening?
Wall Street's plumbing just got a crypto upgrade. The Depository Trust & Clearing Corporation (DTCC) quietly added XRP spot ETFs to its eligibility list – and the market responded with an instant 8% surge.
Behind the numbers: Traders are betting big on institutional demand. The DTCC nod means billions in pension funds and hedge money could soon flow into XRP through regulated channels. No more OTC desk handshakes or sketchy offshore accounts.
But here's the twist: These same suits spent years calling XRP 'uninvestable' during the SEC lawsuit. Now they're scrambling to get exposure before the ETF launch. Classic Wall Street – first they ignore you, then they fight you, then they charge 2% management fees.
Technical breakout or temporary hype? The charts show XRP clearing key resistance levels, but remember – in crypto, even 'institutional adoption' can mean a few overleveraged hedge funds YOLO-ing client money.
DTCC Lists Five Ripple Spot ETFs
Spot XRP exchange-traded funds from five major financial institutions have been reportedly listed on the DTCC, fueling anticipation of a US launch later this month. These asset managers include Franklin Templeton, Bitwise, Canary Capital, 21Shares, and CoinShares. The listed products are XRPZ, TOXR, XRP, XRPC, and XRPL, respectively.
According to Canary Capital CEO Steven McClurg, the firm plans to launch its XRPC fund next week. McClurg noted that the no-delay amendment could expedite the ETF's approval within 20 days. With other issuers accelerating their efforts, WisdomTree's ETF is expected to join the DTCC listings soon. In addition, Grayscale is also preparing to launch a spot ETF by converting its existing fund, which has accumulated around $14 million in assets under management since its launch last September.
Bitwise CEO Sees Huge Potential for Ripple ETF
Bitwise CEO Hunter Horsley predicts a Ripple exchange-traded fund would be a big hit if approved, citing strong global interest in the token. Horsley attributes the potential success of the ETF to the token's passionate and active community, which he believes could translate into strong demand for the product, attracting both retail and traditional investors.
In addition, he stated that a Ripple fund could unlock over $100 trillion in traditional assets, allowing them to gain exposure to the token. He noted, “I think if they have the opportunity to have exposure…it’ll be a very useful and high-demand product.” Horsley added,
“Investors are busy, they’re thinking about AI, macroeconomics, government policy, or taking family vacations…So I think that there’s more thought development that will need to take place with Solana, XRP, and ethereum before consensus emerges on those assets. So I think they’ll continue to be volatile for some time to come.”XRP Price Surges
In response to the Ripple ETF development, the XRP price has experienced a remarkable uptrend, with the token hitting a weekly high of $2.46. The altcoin has surged by nearly 10% over the past 24 hours, sparking widespread enthusiasm. Over the past week and month, the Ripple coin has been up by 1.82% and 2.5%, respectively.
This uptrend is also reflected in the traders’ activity, with the community increasingly engaging with the token. The 24-hour trading volume has soared by about 45%, reaching an impressive high of $4.1 billion. This indicates that the community is significantly optimistic about the cryptocurrency, which in turn could positively impact the XRP price.
