Excitement in the crypto community is growing over the potential launch of an XRP exchange-traded fund (ETF), after the United States (US) Senate reached a deal to end the longest government shutdown in the country’s history.
The Senate reportedly passed a budget bill on Sunday, sending a positive signal to global financial markets, including the crypto market.
Following the development, the XRP community is expecting the launch of several XRP ETFs in the near future, after several product listings appeared on the Depository Trust and Clearing Corporation (DTCC) website ahead of a possible launch this month.
XRP price has risen by over 12% in the past 24 hours and is currently trading around $2.56, according to CoinGecko data.
As of Monday, the DTCC website listed 11 XRP ETFs in active and pre-launch listings, including from 21Shares, ProShares, Bitwise, Canary Capital, Volatility Shares, REX-Osprey, CoinShares, Amplify and Franklin Templeton.
While a DTCC listing does not guarantee an official launch or regulatory approval, it does indicate that the ETF infrastructure is now ready to trade in the US market.
Meanwhile, Grayscale’s XRP Trust (GXRP) and WisdomTree’s XRP fund have not yet been listed on the DTCC website.
Bloomberg ETF analyst Eric Balchunas said the end of the government shutdown has opened up new opportunities for crypto ETF approvals in the US market. He also stressed that the launch of the spot XRP ETF could mark the end of an era of tight regulatory approaches to the crypto industry.
Canary Capital had previously said that its XRP ETF was expected to launch in the near future, with speculation that it could start trading by the end of this week.
