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XRP Gains Edge in ETF Race Over SOL and DOGE, Says Kaiko
The digital asset market has been abuzz with speculation about which altcoin will be the next to secure an exchange-traded fund (ETF) listing. In a recent analysis, data and insights from crypto market research firm Kaiko have shed new light on this topic, suggesting that Ripple’s XRP is gaining an edge in the ETF race over Solana’s SOL and Dogecoin’s DOGE.
According to Kaiko’s findings, XRP has now taken the lead with 10 active ETF filings, significantly outpacing SOL which currently boasts a much smaller five filings. Meanwhile, DOGE’s three ETF filings put it even further behind in terms of institutional readiness.
The report highlights that XRP’s strong performance is largely attributed to its ability to maintain high liquidity and market depth, with a “1% market depth” that far surpasses its competitors. This development holds significant implications for regulatory clarity, as such liquidity ensures smoother ETF operations and reduces the risk of price volatility due to large inflows or outflows.
Kaiko’s data further shows that XRP has achieved remarkable growth in U.S. exchange volume, a crucial factor in the approval process for an ETF. In contrast, SOL and DOGE have not been able to replicate this success.
As the industry waits with bated breath for regulatory bodies to greenlight new ETF listings, these findings suggest that XRP’s position at the forefront of the competition may be irreversible.
Source: https://www.crypto-news-flash.com/xrp-gains-edge-in-etf-race-over-sol-and-doge-says-kaiko/?utm_source=rss&utm_medium=rss&utm_campaign=xrp-gains-edge-in-etf-race-over-sol-and-doge-says-kaiko
