Analyst: Spot XRP ETF Will Have Priority Approval From SEC Over Other Applied Crypto ETFs

BlockBeats News, April 15th, Kaiko's analyst stated that superior market liquidity and Teucrium's recent launch of a 2x leverage product have positioned XRP as the leading asset for the next spot ETF approval by the U.S. Securities and Exchange Commission (SEC), following Bitcoin and Ethereum.

With the anticipation of crypto-friendly Paul S. Atkins taking over as SEC chair from the industry-unfriendly Gary Gensler (who resigned last week after Senate confirmation), a slew of asset management firms including Bitwise, Grayscale, and VanEck have submitted more crypto-related ETF applications in recent months, with decision deadlines rapidly approaching.

According to Kaiko's data, XRP leads in active ETF applications with 10 applications, followed by Solana ETF with 5 applications, and Litecoin and Dogecoin with 3 applications each. XRP has the highest average altcoin 1% market depth on major centralized crypto exchanges—indicating a significant amount of buy and sell orders near the current market price, helping to create a stable market environment, reduce slippage, and making it one of the most liquid assets. The Kaiko analyst stated in Monday's report: "Highly liquid spot markets are crucial for creating efficient structured products, a fact that the previous SEC leadership was very sensitive to."