XRP’s approval is seen unlocking a bonanza of $ 5 billion, but ‘people severely underestimate the demand, says the analyst – DL News

The funds quoted in Spot XRP stocks could obtain more than $ 5 billion in tickets within its first month of negotiation.

According to analysts who made that prediction as the deadline of October so that the US stock and values ​​commission. UU. To make a decision on Altcoin ETFS approaches.

However, Nate Geraci, co -founder of the ETF Institute and president of the ETF store, said that most people have lost how big is the opportunity.

“People severely underestimate the demand of Spot XRP investors and [Solana] ETFS, the fixed In a Monday publication.

He did not say what estimates he said, he only added that people underestimated the demand of the Bitcoin and Ethereum Spot ETF before being thrown.

Geraci’s comments occur when the DEC Decision date of the SC is approaching on a whore of ETF Altcoin applications.

The SEC is reviewing about a dozen ETF XRP applications, which are part of more than 90 products quoted in the stock market waiting for approval.

Last week, approximately half of the applicants to the ETF XRP fund updated their presentations, a movement described as a “good sign” by the intelligence analyst of Geraci and Bloomberg, James Seyffart.

In Polymket, the possibilities of an approved ETF XRP have shot 16% in the last 24 hours to 87%. Bloomberg ETF analysts linked the possibilities of approval in 95% In August.

Alcista input predictions

At the beginning of the year, JPMorgan analysts predicted up to $ 8 billion in tickets to ETF XRP within the first year of negotiation.

The CEO of Canary Capital, Steve McClurg, is even more optimistic. Last week, he predicted up to $ 5 billion in tickets to ETF XRP within the first month. That still pales compared to the Bitcoin ETFs, which attracted almost $ 2 billion in just the first three days of negotiation.

Even so, analysts can search for existing XRP stock products to measure the probable demand for an approved ETF spot.

In April, Teucrium, the ETF sender centered on agriculture, launched an ETF XRP leverage. That fund has increased on $ 353 million In net assets, almost more than the combined total of the most traditional agricultural base ETFs of Teucrium.

XRP quoted at $ 2.81 on Monday, almost 1% in the last 24 hours, according to the rest of the cryptocurrency market. The price has dropped 23% since it reached a new historical maximum on July 18.

This price drop occurred in the middle of a large profit gain since the whales sold $ 6 billion in XRP in three weeks. The trend has been reversed, according to the market data Santiment, since whales have bought around 350 million XRP coins worth $ 984 million in the last two weeks.

Osato advance-nomayo It is our correspondent defi with headquarters in Nigeria. He covers Defi and Tech. Do you have a tip? Contact him in Osato@dlnews.com.