Connect with us

Altcoin

Will BlackRock XRP ETF Application Convince US SEC for Approval?

Published

5 hours ago

on


Crypto market analysts believe that a spot XRP ETF filing coming from the world’s largest asset manager BlackRock could speed up the approval process. This discussion sparks within the XRP community as the U.S. Securities and Exchange Commission (SEC) delayed the decision on ETF filing for Ripple cryptocurrency by Canary Capital and Grayscale.

BlackRock May Leverage XRP ETF Delays

On Tuesday, March 11, the US SEC delayed its decision for approval for the Canary spot XRP ETF and the Grayscale ETF, along with the delays in Solana ETF from Canary, VanEck, and others. Bill Morgan, a prominent lawyer and advocate for XRP, has raised speculation about BlackRock’s potential strategy amid ongoing delays in crypto ETF approvals.

Morgan added that BlackRock might see these delays as favourable to them, as it gives the asset manager some additional time to file an XRP-based exchange-traded fund (ETF) and gain a competitive edge in the market.

Although the asset manager hasn’t hinted at filing an Ripple ETF anytime soon, market analysts are hopeful of this development in the future.

Franklin Templeton Files XRP ETF Application

Despite the delays in approval by the US SEC, $1.5 trillion asset manager Franklin Templeton filed an application for an XRP ETF. According to the filing, Coinbase Custody Trust Company will serve as the custodian for the fund’s XRP holdings, ensuring secure storage of the digital assets.

The move marks a significant development in the evolving crypto ETF landscape, with Franklin Templeton joining the growing list of institutions vying to bring XRP-focused financial products to market.

Following the change of regime at the US SEC, and the Trump administration in charge, market analysts are hopeful for an XRP ETF. However, asset managers like BlackRock would be willing to wait for a settlement in the Ripple lawsuit, which could provide a clear path for filing an ETF application. Several market analysts believe that the settlement could happen before Ripple’s appellate brief submission on April 16, 2025.

XRP Price Action Ahead

XRP price is up 5% today amid the current ETF developments with open interest surging 2.28% to $3 billion. The 24-hour liquidations have surged to $ 13.85 million, with more than $7 million in short liquidations.

Mikybull Crypto highlights XRP as one of the strongest performers despite the ongoing market downturn. The analyst points to a daily bullish divergence on XRP’s chart, signaling potential upward momentum. Mikybull anticipates that XRP could see a significant rally once broader market recovery begins.

Source: Mikybull Crypto

✓ Share:

Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Altcoin

Can Dogecoin Price Still Hit $5 Despite US SEC’s DOGE ETF Delay?

Published

2 hours ago

on

March 12, 2025

By


The crypto market has rebounded strongly from its recent turmoil, reaching a value of $2.65 trillion with a 1.30% increase. In tandem with this trend, Dogecoin’s price has surged by almost 2% over the past day. Analysts remain optimistic about DOGE’s potential for a bullish rally, further fueling the current upward momentum.

Will Dogecoin Price Reach $5?

In a recent X post, market analyst CryptoELITES shared a bullish forecast for Dogecoin price. The analyst predicted that DOGE will reach $5 in the near future. To strengthen their analysis, CryptoELITES presented a historical chart that signals Dogecoin price’s target of $5.

Meanwhile, Trader Tardigrade has identified the formation of a 5-wave Descending Broadening Wedge on the 4-hour chart, indicating an impending breakout. Following a confirmed RSI bullish divergence, Dogecoin ($DOGE) rebounded to test the descending resistance line of the wedge. According to the analyst’s predictions, Dogecoin could reach $0.1780.

Can Dogecoin Price Still Hit $5 Despite US SEC's DOGE ETF Delay?Can Dogecoin Price Still Hit $5 Despite US SEC's DOGE ETF Delay?

Increased Whale Activity and ETF Frenzy Spark Bullish Resurgence

During the last crypto market correction, Dogecoin dipped by nearly 20% falling from $0.22 to $0.17. However, large Dogecoin investors or whales have utilized the opportunity to amass 1.7 billion DOGE worth $298 million in just 72 hours.

Reflecting on this increased whale activity, analyst Lumen projected Dogecoin price’s surge to $0.5. He added that the target is possible if DOGE surges past $0.2 before the ETF approval.

Interestingly, crypto expert DOGECAPITAL posited that the Dogecoin price could reach an ambitious point of $90 by the end of 2025.

In a recent development, the US Securities and Exchange Commission (SEC) has reportedly delayed its decision on approving ETFs for Dogecoin (DOGE), XRP, Solana, and Litecoin, despite growing anticipation. However, ETF Store President Nate Geraci remains optimistic, asserting that the ETFs will ultimately be approved.

Why $2 is a Pivotal Target for Dogecoin Price?

Notably, $2 has been a pivotal target for the Dogecoin price. Many crypto experts have predicted DOGE’s potential rally targeting around $2. For instance, Dogecoin co-founder Billy Markus projected Dogecoin price’s possible surge to $2.3, marking a staggering 500% uptick.

Similarly, analyst Javon Marks underscored DOGE’s potential to hit $2.3, citing historical patterns. According to Changelly, DOGE will reach the projected $2.3 by July 2032.

As of press time, DOGE is valued at $0.1614, with an uptick of 3.64% over the past 24 hours. Despite the daily surge, Dogecoin price saw massive declines of 17% and 34% over the past week and month, respectively.

✓ Share:

Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

Altcoin

Binance Reveals Major Backing For These 5 Crypto, Prices To Rally?

Published

3 hours ago

on

March 12, 2025

By


The latest update from cryptocurrency exchange Binance nabbed substantial investor attention globally. An update from the platform on Wednesday revealed that users are poised to witness five new spot listings shortly ahead. A stockpile of other new trade services for the same will follow. In turn, market participants weigh considerable optimism on the assets’ future price movements amid enhanced market support.

Binance Reveals Spot Listings For 5 New Crypto Pairs

In an official release dated March 12, Binance revealed that it will open trading for the following pairs starting March 13 at 08:00 UTC.

  • CVC/USDC
  • EURI/USDC
  • SYN/USDC
  • USDC/RON
  • VELODROME/USDC

What’s More?

Further, the top crypto exchange will also commence trading bot services for the abovementioned pairs on the same date and time. In particular, users are to enjoy ‘Spot Algo Orders’ services on these pairs.

As a response, market participants anticipate rising trading volumes in these assets amid enhanced market offerings that attract investors. This saga could potentially bolster price actions despite the recent broader market turmoil.

Why Did Binance Reveal These Listings?

Notably, the exchange’s announcement added that this decision is to expand the list of trading choices offered to users. With this, the crypto exchange behemoth continues to cement its global ranking, offering users top-notch trading opportunities.

However, the announcement also revealed that users in the following regions cannot trade these pairs:

  • Canada
  • Cuba
  • Crimea Region
  • Iran
  • Netherlands
  • North Korea
  • Syria
  • United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands)
  • Any non-government-controlled areas of Ukraine.

“RON is fiat currency and does not represent any other digital currencies,” Binance added.

Can These Crypto Rally?

For context, usual market sentiments about prices remain highly positive amid new spot listings on crypto exchange giants. Primarily due to the platform’s colossal user base, market watchers anticipate a huge money influx in tokens in light of the enhanced trade offerings.

However, it’s also worth taking into account the broader crypto market turmoil with investors’ cautious approach. Notably, the crypto sector faces immense pressure amid rising U.S. recession fears and Trump’s tariff chronicles. Nevertheless, traders and investors continue to eye Binance’s updates, expecting gains in the wake of rising market exposure.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

Altcoin

21Shares Reduces Fees for Bitcoin Ethereum Core ETP, Lists on Xetra

Published

4 hours ago

on

March 12, 2025

By


In a groundbreaking revelation, 21Shares announced a significant reduction in the management fees for its Bitcoin Ethereum Core ETP (ABBA). In addition, the ETP provider listed ABBA on the Xetra exchange, effective March 12, 2025, aiming to make crypto investments more affordable and accessible.

Notably, 21Shares’ ABBA offers investors a cost-effective way to invest in both Bitcoin and Ethereum, with the added security of being fully backed by these two leading cryptocurrencies. Let’s now unveil how the latest development will provide advanced investment opportunities in Bitcoin and Ethereum.

21Shares Lowers ABBA’s Management Fees and Lists on Xetra

According to a press release, 21Shares, one of the world’s largest ETP providers, announced the reduction of management fees for its Bitcoin and Ethereum Core ETP (ABBA) to 0.49%.

Significantly, the fee reduction coincides with the listing of ABBA on the Xetra exchange, which took effect on March 12, 2025. Backed by BTC and ETH, the 21Shares ABBA has become an even more compelling investment option with its reduced management fee of 0.49%. It offers investors a convenient and cost-effective way to tap into both leading cryptocurrencies.

ABBA’s Xetra Listing: 21Shares’ European Expansion

Interestingly, 21Shares is envisioning the expansion of ABBA’s availability. Thus, the ETP provider has listed ABBA on Xetra, Deutsche Börse’s leading trading platform for exchange-traded products, expanding its availability. Commenting on the development, Mandy Chiu, Head of Financial Product Development at 21Shares, stated, “We are committed to continuously improving our product offerings to meet the evolving needs of our growing pool of investors worldwide.”

The listing of ABBA on Xetra is a strategic step in 21Shares’ expansion plans, aiming to enhance liquidity, accessibility, and transparency for European investors. Thus, the development ultimately solidifies the company’s presence in the region. Chiu further stated,

At 21Shares, our mission is to provide investors with the most efficient and innovative crypto investment products. Reducing the fees on ABBA and bringing it to Xetra are important steps in making Bitcoin and Ethereum more accessible through a trusted and regulated investment vehicle.

This move follows the US Securities and Exchange Commission’s (SEC) decision to postpone the approval of several ETFs, including 21Shares’.

✓ Share:

Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io