XRP ETF and DR on the rise: What does this mean for the Ripple course? 🚀
Receipts Depo (RDC) plans to launch XRP Depository Receipts (DR) in the United States. This investment product is intended for accredited investors and is supported by DWP Advisors. The U.S. Office of the Comptroller of the Currency oversees this product, according to Fox Business journalist Eleanor Terrett. The launch of XRP DRs could affect the Ripple courseas it may attract more institutional investors..
XRP DR connects DeFi with traditional finances
According to Fox Business journalist Eleanor Terrett XRP DR works similarly to American Depository Receipts (ADR), which allow investors to purchase foreign shares through US exchanges. XRP DR allows investors to purchase XRP through regulated trading platforms.
This product aims to narrow the gap between Decentralized Finance (DeFi) and traditional markets, bringing more capital into the XRP network. Anchorage Digital becomes the custodian of these DRs, subject to approval by regulators.
XRP DR provides investors with access to international markets, helps spread risk and reduces entry costs. This simplifies institutional access to XRP.
XRP DR and the way to an ETF
This product can help institutional investors gain exposure to XRP. At the same time, interest in an XRP ETF in the United States is growing. Several crypto asset managers are working on an XRP ETF. Where previously there was uncertainty about S-1 registrations, more and more parties are now submitting 19b-4 applications to accelerate approval.
The Cboe Exchange has submitted a 19b-4 on behalf of 21Shares, Bitwise and Canary Capital for their XRP ETFs. In addition, Grayscale Investments, CoinShares and WisdomTree are also committed to these products.
Analysts expect an XRP ETF to be approved, providing additional opportunities for institutional investors to invest in XRP.
Trust in Ripple course through possible ETF
Changing regulations in the US increase confidence in an XRP ETF. Under the leadership of Acting SEC President Mark Uyeda, the regulator appears to have a more open attitude towards crypto.
The SEC has established a special crypto enforcement unit, which makes investors optimistic about the future of XRP and other altcoins such as Solana.
https://bitcoinmagazine.nl/nieuws/xrp-etf-dr-ripple-koers