XRP ETF decision expected June 17 as whales buy in, boosting price hopes amid growing institutional interest - IcoHolder.
XRP is back in the spotlight as June 17 approaches, a date that could prove crucial for its price. On this day, the U.S. Securities and Exchange Commission (SEC) is expected to announce its decision on a new XRP Spot ETF. Many market watchers believe that approval could significantly boost XRP’s value.
Several major firms, including Franklin Templeton, Grayscale, and 21Shares, have submitted applications to the SEC to launch XRP ETFs. These exchange-traded funds simplify the process of buying and selling XRP for both retail and institutional investors. The SEC’s decision on June 17 could be to approve the ETF, reject it, or postpone the ruling. While a delay is widely anticipated, some experts think approval is more likely this time, given recent changes in SEC leadership.
Meanwhile, large-scale investors, often referred to as whales, have increased their XRP holdings. For example, Chinese company Weebus plans to launch a $300 million XRP fund, and Hyperscale Data intends to acquire $10 million worth of XRP to support a crypto lending platform for public U.S. companies. These moves indicate strong confidence in XRP’s prospects among significant players.
Additional positive developments include NASDAQ’s plan to add XRP to its crypto index later this year. There are also rumors that BlackRock, the world’s largest investment firm, is interested in launching an XRP ETF. With potential ETF approvals, whale accumulation, and new projects in progress, many analysts are speculating that XRP could surpass its previous all-time high soon—possibly before June 17 or later this year.
At the time of writing, XRP is trading at $2.24, down over 3% in the past 24 hours.
