Blockchain
XRP News Today: Investor Buzz on SEC Crypto Cases and XRP-Spot ETF Outlook
Investors expect the approval of ETH spot ETFs to pave the way for an XRP spot ETF market. The SEC approved the first US ETH spot ETF despite considering ETH a security.
James Seyffart, ETF analyst at Bloomberg Intelligence attributed SEC U-turn on ETH spot ETFs at the White House. With the US presidential election race heating up, cryptocurrencies are a talking point. Earlier this month, Republican Party favorite and former US President Donald Trump linked cryptocurrencies, said,
“If you like cryptocurrencies in any form… and they come in many forms… if you are pro cryptocurrencies, you are better off voting Trump.”
WE Bitcoin-Inflow trends in the spot ETF market may have caught the attention of the US administration. Since launching on January 11, the US spot BTC ETF market has seen total net inflows of $13,327.2 million.
Specifically, Coinbase (CURRENCY) highlighted the importance of the cryptocurrency market for Washington in 2023, give the go the StandWithCrypto campaign to raise awareness on Capitol Hill.
According to Coinbase, 52 million Americans owned cryptocurrencies at the time. The numbers are too significant for US President Joe Biden to ignore. A change in attitude towards cryptocurrencies on Capitol Hill could be a boon for XRP and the cryptocurrency market in general.