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While not a point ETF, the approval has created hope among investors. Crypto analyst Armando Pantoja says this is a big step forward for XRP. He thinks it could attract major Wall Street and institutional investors.
Pantoja pointed out that Bitcoin and Ethereum also started with futures ETFs before getting spot ETFs. He believes XRP is following the same path. Bitcoin’s spot ETF, for example, was approved three years after its futures ETF.
According to Pantoja, a spot XRP ETF would trigger strong buying pressure and boost the price. However, not everyone is fully convinced.
Another analyst warned that futures ETFs only allow price speculation. They do not require buying the actual XRP tokens. This means they may not create real demand in the market.
He also noted futures ETFs can cause higher price swings and come with extra costs, like rollovers and management fees.
Meanwhile, XRP’s price is climbing. It rose 9.4% over the past week and currently trades at $2.30.
Several spot XRP ETF applications are now awaiting SEC decisions, expected later this year.
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