“Ripple’s unified system for payments and wealth storage may give XRP an edge with institutions eyeing real-world utility beyond speculation, said Bitnomial CEO Luke Hoersten.”, — write: www.coindesk.com
“What I think is unique about XRP and RLUSD is you have a single ledger that is driving a two-prong strategy, one of wealth storage and transfer in XRP, and the other is in RLUSD, which is payments,” Hoersten said at Ripple’s Swell conference in New York on Tuesday. “Having that both on a single ledger with a single strategy, to me, is what makes the ecosystem unique.”
The comments came during a panel discussion alongside Bitwise CEO Hunter Horsley, Canary Capital CEO Steven McClurg and Bloomberg Intelligence senior ETF analyst Eric Balchunas. The group discussed what a spot XRP ETF could look like, and why they think it might outperform past crypto ETF launches.
McClurg explained how new SEC rules, combined with existing futures activity, now allow ETF issuers to file what’s called a “no-delay amendment” for assets like XRP.
“So for instance, we filed that for Litecoin and HBAR, you know, several weeks ago, both of which went live last week,” McClurg said. “And then we filed an XRP ETF with no delay amendment, essentially, 20 days before November 13.”
That means a spot XRP ETF could go live as early as next week.
Bitwise, which recently launched a Solana staking ETF, is also in the race. That fund, BSOL, brought in $500 million in its first week — one of the strongest performances of any ETF in 2024. Horsley said he believes XRP could be next.
“I think XRP, and we know from our client base, is one of the highest conviction assets among investors, so I think it will do fabulously well, and we’ll bring it to market across all those investor types to make sure it has its best shot at making a dent,” he said.
Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, echoed that view. He compared the ETF launch race to a “Cannonball Run,” and said XRP has already proven its popularity in past crypto fund launches.
“It wouldn’t surprise me if XRP ends up being the breakout ETF of the next cycle,” Balchunas said.
Still, the panel cautioned that an ETF alone does not guarantee a price surge. But as new tools like in-kind creation, physically settled futures and tighter spreads come into play, XRP may be better positioned than most to benefit from a broader shift of crypto into regulated finance.
A deep dive into Zcash’s zero-knowledge architecture, shielded transaction growth, and its path to becoming encrypted Bitcoin at scale.
- Shielded adoption surgedwith 20–25% of circulating ZEC now held in encrypted addresses and 30% of transactions involving the shielded pool.
- The Zashi wallet made shielded transfers the default, pushing privacy from optional to standard practice.
- Project Tachyonled by Sean Bowe, aims to boost throughput to thousands of private transactions per second.
- Zcash surpassed Monero in market share, becoming the largest privacy-focused cryptocurrency by capitalization.
View Full Report
The largest crypto has now tumbled more than 20% since hitting a record high above $126,000 only one month ago.
- Bitcoin fell below $100,000, marking its weakest price since late June amid a broader market correction.
- The largest crypto has now declined over 20% from its record high above $126,000 reached on October 6.
Read full story