XRP Coin ETFs are expected soon, bringing anticipation to the altcoin world.
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The government shutdown, which likely ends tomorrow, momentarily caused upticks in markets but was short-lived. As delayed economic reports begin to surface in the coming weeks, interest rate forecasts will become clearer. Meanwhile, the ETF arena faces challenges, with Bloomberg analyst Eric weighing in on the issue.
ContentsBitcoin (BTC) ETFXRP Coin ETF Bitcoin (BTC) ETF
Bitcoin $105,483, having reached a new daily low at $102,840 and briefly testing $107,000, returned to the 350DMA level. This volatility suggests potential continued losses for altcoins following a brief short liquidation, reflecting ongoing bearish trends.
The situation with ETFs remains unstable. Stable exits had been occurring since October 29, broken only on November 6 and yesterday. Exits exceeding $2 billion, particularly from BlackRock and Fidelity, contribute to the negative sentiment.
Bloomberg analyst Eric, who shared the above chart, claims the scenario is not as dire as it appears. “About $2.7 billion exited from Bitcoin ETFs last month. JSeiff’s new chart contextualizes this, showing a two-steps-forward, one-step-back model, representing only 1.5% of total assets, leaving 98.5% of AUM unchanged.”
XRP Coin ETF
The process continues for altcoins as well. A decision for Franklin’s XRP ETF is expected on Thursday. Although the SEC operates with limited staff, Eric, referencing Canary’s recent 8A filing, suggests we may see XRP Coin listed soon.
“Canary filed an 8A for the XRP ETF last night, indicating a potential launch tomorrow or Thursday (today is a holiday). We anticipated a Thursday release, but prior 8A filings for HBAR resulted in next-day launches. While nothing is final, conditions are being met, so stay tuned for developments…”
Following the end of the government shutdown, all eyes will be on the delayed SOL Coin and timely XRP Coin ETFs. Solana $164 and XRP Coin have attracted the most institutional investors in altcoins this year, with Solana ranking just after Ether, followed by XRP Coin.
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