XRP ETFs Anticipated as U.S. Senate Moves to End Government Shutdown

According to Cointelegraph, the crypto community is abuzz with anticipation over the potential launch of XRP exchange-traded funds (ETFs), as the U.S. Senate advances a budget deal to conclude the longest government shutdown in history. The Senate's agreement on the budget bill, reached on Sunday, is seen as a positive signal for various markets, including the cryptocurrency sector. The XRP community is particularly optimistic about the imminent launch of multiple XRP ETFs, with several already listed on the Depository Trust and Clearing Corporation (DTCC) website. These listings suggest a possible launch within the month. The excitement has driven the price of XRP up by more than 12% in the past 24 hours, with the token trading at $2.56, as reported by CoinGecko. As of Monday, the DTCC website showcased 11 XRP ETF products in its "active and pre-launch" section. These include offerings from 21Shares, ProShares, Bitwise, Canary Capital, Volatility Shares, REX-Osprey, CoinShares, Amplify, and Franklin Templeton. While a DTCC listing does not guarantee an actual launch or regulatory approval, it indicates that the ETF infrastructure is prepared for trading on U.S. markets. Notably, Grayscale's XRP Trust (GXRP) has yet to appear on the DTCC website, and there is currently no listing for an XRP fund from WisdomTree. ETF expert Nate Geraci commented on social media, suggesting that the end of the government shutdown could pave the way for a surge in spot crypto ETFs, with the potential for the first '33 Act spot XRP ETF to launch this week. Bloomberg ETF analyst Eric Balchunas also noted the end of the shutdown and the subsequent rise in U.S. equity futures. He highlighted the Securities and Exchange Commission's (SEC) past litigation against Ripple, which concluded three months ago, suggesting that the launch of spot XRP ETFs could mark a significant shift away from previous anti-crypto regulatory stances. Additionally, Canary Capital recently announced that its XRP ETF is "coming soon," with speculation that the product could be available by the end of the week. The developments in the XRP ETF landscape are being closely watched by investors and analysts alike, as they could signal a new era for cryptocurrency investment products in the U.S. market.