Propel

Read

Chad

<ul>
 <li>The XRP community foresees a surge in value with the introduction of an XRP ETF.</li>
 <li>Steingraber details steps for an XRP ETF to create scarcity and attract diverse investors.</li>
 <li>Long-term institutional commitment to XRP ETF shares may drive sustained value growth.</li>
</ul>
The anticipation of an XRP Exchange-Traded Fund (ETF) has stirred discussions within the crypto sphere. Chad Steingraber, a professional game designer, <a href="https://x.com/ChadSteingraber/status/1741133616745254920?s=20" rel="noopener noreferrer nofollow">outlined</a> a step-by-step perspective on how an XRP spot ETF could lead to a significant surge in XRP’s value.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/UGRgP52BCP1GmGAZ99m9J3u15r5YLjFI2bdM_e44Iud3YAxfNOIe4bk3-pephYSFsMEp0lyXB3yrd7zGKeJzVOwhB-FmOQpEsmcIxZ2l26jIEdWOeqq4Qctn6uSH-n_5za_NUy7rFLk-3kIcH_MWJCU" alt="">
</figure>
Source: Chad Steingraber
According to Steingraber’s analysis, the introduction of an ETF would entail the purchase of XRP directly from public exchanges. Unlike futures ETFs, where assets aren’t physically held, a spot ETF would necessitate committing funds to acquire the actual underlying asset, creating a pivotal distinction in this scenario.
Post-purchase, Steingraber highlighted that the ETF would lock up the acquired XRP tokens, typically under custodianship, while issuing derivative shares. This strategy aims to attract a diverse array of investors, ranging from institutional players to the broader public.
Moreover, Steingraber speculated that the public acquisition and subsequent locking of XRP would generate scarcity in its supply, potentially leading to increased demand from both the ETF and the broader market. A key point of emphasis was the caliber of investors likely to engage with XRP ETF shares. Steingraber suggested that institutions and even governmental entities might allocate funds to this investment vehicle.
Furthermore, the visionary outlook anticipated a sustained interest from long-term investors, potentially fostering a market environment where reduced supply and heightened interest converge to steer XRP’s value on a compelling upward trajectory. The market sentiment surrounding the potential announcement of a genuine XRP ETF was underscored as a potential catalyst for XRP’s surge, citing previous instances where news of related developments triggered notable price movements within minutes.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/what-factors-could-propel-xrp-to-its-coveted-1-mark/" rel="noopener noreferrer nofollow">What Factors Could Propel XRP to Its Coveted $1 Mark?</a></li>
 <li><a href="https://cryptonewsland.com/analysts-eye-potential-drop-but-bullish-factors-could-propel-bitcoin-to-28k/" rel="noopener noreferrer nofollow">Analysts Eye Potential Drop, but Bullish Factors Could Propel Bitcoin to $28K</a></li>
 <li><a href="https://cryptonewsland.com/presidential-hopefuls-pro-bitcoin-position-sets-btc-on-course-for-100x-explosion/" rel="noopener noreferrer nofollow">Presidential Hopeful’s Pro-Bitcoin Position Sets BTC on Course for 100x Explosion</a></li>
 <li><a href="https://cryptonewsland.com/blackrocks-spot-etf-a-key-driver-to-push-bitcoin-beyond-100k/" rel="noopener noreferrer nofollow">BlackRock’s Spot ETF – A Key Driver to Push Bitcoin Beyond $100k</a></li>
 <li><a href="https://cryptonewsland.com/solanas-meteoric-rise-vaneck-forecasts-3-2k-price-by-2030/" rel="noopener noreferrer nofollow">Solana’s Meteoric Rise: VanEck Forecasts $3.2K Price by 2030!</a></li>
</ul>
The post <a href="https://cryptonewsland.com/xrps-meteoric-rise-how-an-etf-could-propel-price/" rel="noopener noreferrer nofollow">XRP’s Meteoric Rise: How an ETF Could Propel Price</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

XRP’s Meteoric Rise: How an ETF Could Propel Price

Crypto News Land

2024년 1월 2일에 게재된 다른 기사

CleanSpark Inc. to Unveil In-House Trading Desk for Enhanced Bitcoin Management

Solana flips Ethereum in 7-day stablecoin volume

6 cryptocurrencies to avoid trading this week

Disney’s vintage Mickey Mouse stars in OpenSea’s NFT marketplace

Web Wallet and Node: December Mainnet Deliverables Are Shipped

Tech Stocks Expected to Surge by 25% in 2024, Nasdaq Aims for 20,000 Points

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!