4.6 C
London
Tuesday, January 21, 2025
HomeCryptocurrencyJPMorgan Predicts Significant Inflows for XRP ETF

JPMorgan Predicts Significant Inflows for XRP ETF

Date:

Related stories

Karmen Secures €9 Million to Fuel Growth of Revenue-Based Financing Products

Karmen, a French fintech startup specializing in revenue-based financing...

Gemini AI in Gmail: how to use it to draft Email Writing

Are you tired of staring at a blank email...

Biden AI Order Revoked by Trump

Former President Donald Trump's decision to revoke a 2023...

Paytm Narrows Losses with Strong Payments Growth

In the latest quarter, Paytm narrows losses significantly, showcasing...
spot_imgspot_img

JPMorgan Chase, a leading global financial institution, has projected substantial inflows for a potential spot-based XRP exchange-traded fund (ETF). The bank estimates that an XRP ETF could attract assets ranging from $3 billion to $8 billion, drawing parallels to the successful launches of Bitcoin and Ethereum ETFs in 2024.

This projection is based on the performance of existing cryptocurrency ETFs. Currently, ETF assets constitute approximately 8% of Bitcoin’s total market capitalization, which stands at $1.81 trillion. While Ethereum ETFs have a lower penetration rate at around 3%, JPMorgan anticipates a similar level of success for Solana ETFs.  

The potential launch of an XRP ETF could significantly impact the cryptocurrency market. JPMorgan’s optimistic forecast highlights the growing interest in cryptocurrency investments and the potential for ETFs to play a crucial role in expanding market access and liquidity for investors.

Adedeji Jedidiah Ogunsola
Adedeji Jedidiah Ogunsola
Adedeji Jedidiah Ogunsola is writer/reporter at TechPolyp with a special interest in Space science, astronomy, Web3, Fintech, and Health tech. His writings are insightful and stands out. Prior to joining Techpolyp he has worked as a Blockchain and DeFi Content Writer with certification on Blockchain mastery.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here