XRP leads race for SEC spot ETF approval: Kaiko

! According to the latest report from cryptocurrency market analysis firm Kaiko, XRP is in a more favorable position than other altcoins while waiting for the U.S. Securities and Exchange Commission (SEC) approve a spot ETF. The two main factors that help XRP outperform are a significant increase in market liquidity and the fact that Teucrium's XRP double-leveraged ETF was recently approved by the SEC.

! Number of applications for ETF approval | Last week in the US, crypto market advocate Paul Atkins was confirmed by the Senate as the agency's new chairman, marking a new phase in SEC operations. The new Atkins chairman will face many regulatory issues, but as the deadline to review crypto ETF filings approaches, the sector is likely to become a top priority.

According to Kaiko data, XRP's 1% market depth (tức liquidity at a 1% price range ) has skyrocketed since late 2024, surpassing SOL and doubling ADA. In addition, the share of XRP's trading in US exchanges is gradually recovering to pre-SEC levels. In contrast, SOL's market share in the US has plummeted to 16%, from 25–30% in 2022.

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Another key factor is the presence of Teucrium's 2x XRP leveraged ETF, which was approved by the SEC last week. This product provides access to double leverage on the daily price movements of XRP through futures contracts. This approval undermined the argument that spot ETFs are riskier and harder to approve. May 22 will be the deadline for the SEC to respond to Grayscale's application to approve the XRP spot ETF — a timeline that the industry as a whole is watching in particular.

Kaiko also stated that some tokens such as Litecoin (LTC) — which have a consensus mechanism similar to Bitcoin — could also be approved due to their commodity-like characteristics. For now, however, XRP remains the most prominent contender in the altcoin ETF race.

Disclaimer****: The article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions*

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Wang Jian

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