A former U.S. Senate candidate and noted cryptocurrency analyst predicts that a spot XRP ETF, once approved, will see initial inflows that “will surprise many.” The analyst stated that the inflows could be significantly higher than those seen by the first Ethereum ETFs, fueled by demand from XRP’s loyal community.
According to John E. Deaton, a lawyer who previously competed against Elizabeth Warren for a Senate seat in Massachusetts and specializes in cryptocurrency, XRP ETFs are expected to generate substantial inflows once the US Securities and Exchange Commission approves them.
The number of active applications is on the rise, with the most recent application seeking to introduce a Monthly Option Income ETF that concentrates on Ripple’s native token.
A Lot of Filings
Deaton made the following comments in response to the Wolf of All Streets’ assertion that the total number of applications for spot Ripple ETFs has increased to 15. Nevertheless, that information is somewhat outdated, as a new filing was received by the US SEC this week.
Yesterday, it was reported that Amplify ETFs submitted an application for an XRP Monthly Option Income ETF, which will operate differently from a spot one.
It is not as dependent on the fundamental asset’s substantial gains. Instead, it employs trading strategies to produce a consistent, predictable, limited monthly income for its investors.
The United States regulator continues to postpone decisions on nearly all applications, even though the number of applications is rising. The SEC’s recent request for comments from issuers has resulted in recent filing updates, and the following significant deadlines are scheduled for October.
Inflows Will Indeed Surprise You?
Deaton did not specify whether the inflows would positively surprise investors; however, it is reasonable to assume that they will, given his involvement with the XRP Army. Ultimately, he was one of the most prominent attorneys representing XRP holders in the legal dispute between the SEC and Ripple.
This is a matter of debate, as the ETFs have not been officially approved. Indeed, there has been substantial demand for XRP, as evidenced by the recent record for the asset on CME futures and the futures ETFs.
Only two cryptocurrencies have been observed to have spot exchange-traded funds that monitor their performance thus far. The market leader has observed massive inflows since the BTC ETFs were established in January 2024. Conversely, the ETH ETFs experienced a slow start and only began to accelerate nearly a year later.
The XRP Army is obligated to await an official SEC decision. However, the community is quite optimistic, as the odds of Polymarket’s approval have increased to 87% by the end of the year.
