{"id":22353,"date":"2025-04-16T13:01:54","date_gmt":"2025-04-16T13:01:54","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22353"},"modified":"2025-04-16T13:01:54","modified_gmt":"2025-04-16T13:01:54","slug":"race-for-spot-etf-approval-xrp-gains-edge-over-others-sol-close-behind","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22353","title":{"rendered":"Race For Spot ETF Approval: XRP Gains Edge Over Others, SOL Close Behind"},"content":{"rendered":"
\n

XRP and Solana (SOL) are emerging as leading candidates for spot exchange-traded fund (ETF) approvals in the United States. According to a recent report by Kaiko analysts, these two assets stand out due to their high liquidity, with the Ripple-related token potentially taking the lead in market readiness.<\/p>\n

XRP And SOL Emerge As Top Candidates For ETF Approval<\/h2>\n

The US Securities and Exchange Commission (SEC) is on the brink of a significant transition with the confirmation of incoming Chair Paul Atkins by the Senate last week.\u00a0<\/p>\n

As a former SEC Commissioner, Atkins inherits a complex portfolio that includes the pressing issue of cryptocurrency regulation<\/a>. Although crypto currently represents a small fraction of overall market activity, looming deadlines for various ETF applications could push digital assets to the forefront of his agenda, the report notes.<\/p>\n

A wave of asset managers has recently filed for crypto-related ETFs<\/a>, and with these deadlines approaching, Atkins has the opportunity to reshape the SEC\u2019s narrative on cryptocurrency, diverging from the cautious stance of previous leadership.<\/p>\n

XRP and SOL have emerged as two of the most favored assets for ETF applications, largely due to their liquidity. A highly liquid spot market is crucial for the efficient structuring of financial products.\u00a0<\/p>\n

According <\/a>to Kaiko Indices, both tokens exhibit the highest average 1% market depth among vetted exchanges, with XRP\u2019s market depth significantly increasing since late 2024, surpassing SOL and doubling Cardano\u2019s (ADA) depth.<\/p>\n

While Bitcoin\u2019s (BTC) ETF approval was propelled by Grayscale\u2019s legal actions,\u00a0which highlighted inconsistencies in the SEC\u2019s previous narratives, XRP\u2019s situation is markedly different.\u00a0<\/p>\n

Key Date Approaches<\/h2>\n

Currently, XRP lacks an active futures market, and its trading volume is concentrated offshore. However, Kaiko highlights XRP\u2019s share of spot volume<\/a> on US exchanges has recently surged to its highest levels since the SEC\u2019s lawsuit in 2021, which led to widespread delistings of the asset.<\/p>\n

In contrast, Solana has experienced a decline in its US market share, dropping to approximately 16% from the 25-30% range it maintained throughout much of 2022.\u00a0<\/p>\n

\"XRP\"<\/p>\n

This shift in market dynamics, coupled with the recent launch of a 2x XRP ETF, positions XRP favorably in the race for ETF approval.<\/p>\n

The SEC acknowledged the token\u2019s spot ETF applications as of late February, alongside other tokens. A crucial date to watch is May 22, when the SEC is expected to respond to Grayscale\u2019s XRP spot filing.\u00a0<\/p>\n

This comes at a time when the market is exhibiting mixed signals, particularly in the options market on Deribit, where bearish sentiment <\/a>prevails. The implied volatility smile for the upcoming April 18 expiration indicates strong demand for downside protection.<\/p>\n

\"XRP\"<\/p>\n

As of now, XRP trades at $2.085, recording a surge of nearly 20% in the weekly time frame.\u00a0<\/p>\n

Featured image from DALL-E, chart from TradingVeiw.com\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

XRP and Solana (SOL) are emerging as leading candidates for spot exchange-traded fund (ETF) approvals in the United States. According to a recent report by Kaiko analysts, these two assets stand out due to their high liquidity, with the Ripple-related token potentially taking the lead in market readiness. XRP And SOL Emerge As Top Candidates […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22353","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22353"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22353\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}