The first US spot $XRP ETF just made its debut, and $XRP investors can’t keep calm.
Within 90 minutes, the fund racked up $24M in trading volume.
The explosive debut has sparked hopes of a broader market rally. And as Uptober sentiment starts spreading across the market, investors are on the hunt for the best altcoins to buy now.
REX-Osprey ETF Sparks Optimism
REX Shares and Osprey Funds has launched the REX-Osprey $XRP ETF, the first US-based ETF tied to $XRP.
The ETF offers exposure to $XRP via a Cayman Islands subsidiary. $XRP, being the third-largest crypto and backed by a cross-border payment ecosystem, has long tempted traditional investors. But many fear taking the first step.
The new ETF, however, opens the door for traditional investors to access $XRP without the hassle of installing a crypto wallet or managing private keys.
The fund’s strong debut surprised both investors and analysts. For example, Bloomberg Senior ETF Analyst Eric Balchunas describes the $24M figure as a ‘semi-shock,’ as its performance is five times stronger than $XRP futures ETFs managed on their first day.
It has also sparked bullish sentiments in the crypto community, as the launch could bring more institutional capital to the $XRP ecosystem. In fact, 58% of Myriad users expect the $XRP price to hit a new all-time h
Go to Source to See Full Article
Author: Bogdan Patru
