The first-ever XRP exchange-traded fund (ETF) has just launched on the market – but it wasn’t a spot ETF – it was a 2x futures ETF.
And it’s already generating significant inflows, helping the XRP price rocket today.
First-Ever XRP ETF Launches
Teucrium Investment Advisors LLC launched the ETF with the ticker $XXRP. It’s a landmark development for the crypto industry and will offer twice the daily returns of $XRP for traders.
However, experts believe the launch of $XXRP is unusual, with Bloomberg’s Senior ETF Analyst Eric Balchunas writing that it’s “Very odd (maybe a first) that a new asset’s first ETF is leveraged. Spot XRP is still not approved, although our odds are pretty high.”
In a later tweet, Balchunas highlighted that the ETF is attracting considerable demand.
And the $XXRP launch increases the approval odds for spot XRP ETF. These spot ETFs would generate new buying pressure, which would help bolster the XRP price.
Given the early demand for $XXRP, it’s clear that the project has strong appeal among sophisticated market players. This indicates that spot ETF products will also generate big inflows when they launch.
But this rising tide of XRP interest is setting a bullish precedent for the broader altcoin market today. Prices are rising across the board, with XRP gaining 5.5%. Other noteworthy runners include Solana and Avalanche, each up 5%.
Best Crypto to Buy Now
After months of struggle, the altcoin market is finally experiencing some much-needed relief. This could prove an inflection point as sentiment and prices swing from bearish to bullish, marking an ideal time for investors to buy the dip.
So with this in mind, here are three of the best cryptocurrencies to buy now:
BTC Bull Token
BTC Bull Token is a Bitcoin-themed meme coin on the Ethereum blockchain. But it isn’t a normal meme coin – it’s the first cryptocurrency to pay its holders real Bitcoin rewards.
Hold BTC Bull Token using multichain crypto wallet Best Wallet, and you’ll receive $BTC and $BTCBULL airdrops at key milestones on Bitcoin’s journey to $1 million, starting when it hits $100K.
It’s an interesting concept with potential to not only attract retail investors – but also institutions. Asset managers such as Franklin Templeton and even BlackRock have acknowledged the prominence of meme coins in crypto.
However, with BTC Bull Token underpinned by Bitcoin – an asset almost universally accepted by institutions at this point – there’s every chance that top money managers could see this as a potential investment opportunity as they look to increase their crypto industry footprint.
BTC Bull Token is currently undergoing a presale and has raised $4.6 million so far. Considering its solid use case and current early stage, there’s certainly potential for investors to generate big gains.
Fartcoin
Fartcoin is another project performing well right now. Like BTC Bull Token, it’s one with potential for institutional interest. At a time when XRP ETFs are contributing to the market’s bullish rally, this consideration holds a lot of weight.
The project is a Solana-based meme coin created in a conversation between two AI agents. Its simplistic yet jovial name has drawn a lot of attention, enabling it to outperform the wider market this week.
Even last Monday – when everything from stocks to gold was red – Fartcoin made gains. Eric Balchunas noticed this phenomenon, which underlines that Fartcoin has smart money appeal.
In another tweet, Balchunas highlighted that Fartcoin processed $2.7 billion in daily trading volume on Friday – which he notes is more than 99.5% of all ETFs
While Fartcoin is based around a light-hearted joke, the attention it’s receiving exceeds that of most dead-serious crypto projects and even traditional assets.
This level of mindshare indicates that the project could continue to see growth in the months ahead.
Solana
As mentioned, Solana has been one of the frontrunners alongside XRP today – but it might just offer a better risk-to-reward ratio.
The reason for this is two fold:
Although both XRP and Solana have spot ETFs pending approval, Solana has a significantly lower market cap. XRP is valued at $129 billion, while Solana is worth $67 billion.
At the same time, Solana has substantially more adoption. The XRP blockchain, XRP Ledger, has processed $3.4 million in dApp volume in the past 24 hours, while Solana has processed $1.9 billion.
Solana also boasts the most active users of any blockchain, with a staggering 74 million people using the network this month. BNB Chain is second with 16 million.
Although both XRP and Solana look bullish, all of this indicates that $SOL could significantly outperform as altcoin season unfolds.
Disclaimer: This content is provided by a sponsor. FinanceFeeds does not independently verify the legitimacy, credibility, claims, or financial viability of the information or description of services mentioned. As such, we bear no responsibility for any potential risks, inaccuracies, or misleading representations related to the content. This post does not constitute financial advice or a recommendation and should not be treated as such. We strongly advise seeking independent financial guidance from a qualified and regulated professional before engaging in any investment or financial activities. Please review our full disclaimer for more details.
