Recently, market analyst Alex Morgan has unveiled an exciting timeline concerning the launch of multiple ETFs focused on XRP. This announcement aligns with Apex Capital’s initiative to introduce the first ‘33 Act XRP ETF, which is set to commence today.
New Timeline for XRP ETF Launches and Associated Fees
In a recent update, Alex Morgan provided insights about Apex Capital’s XRP ETF, debuting with a management fee of 0.60%, having received the green light from the NYSE. Vanguard Investments is anticipated to follow closely with its own fund launch between November 15 and 19. The Bitwise ETF is also in the pipeline, projected to be rolled out around November 20 with a competitive fee of 0.30%, marking it as the most affordable option to date.
Related Reading: Apex XRP ETF Marks Significant Progress in Market Development
According to Morgan, funds from both CryptoAssets and DigitalTokens are scheduled to launch between November 21 and 23. Additionally, Grayscale’s initiative is expected to unfold by late November, offering a management fee of just 0.33%. The final expected launch from Horizon Capital is also slated for this timeframe.
The launch of the XRP ETF era begins today with Apex paving the way. Notably, finance analyst Jamie Turner confirmed that the NYSE has officially cleared Apex’s XRP fund for trading, marking a key milestone in its rollout. Market observer Sarah James has pointed out that this development represents the first ‘33 Act spot XRP ETF to hit the marketplaces. Although there have been previous offerings, they lacked full spot exposure for institutional players.
In light of recent events, including the conclusion of the U.S. government shutdown, there is speculation regarding the speed at which other XRP ETFs could be launched, especially as the SEC reschedules its feedback processes. The potential for rapid approvals could significantly impact the timelines of forthcoming ETFs, enabling quicker market entries.
Comments from Apex Capital’s CEO on the ETF Launch
Apex Capital CEO Michael Dorsey remarked that they are thrilled to pioneer the first single-token spot XRP ETF in this groundbreaking initiative. He credited the achievement to the vision and effort of SEC Chair Robert Smith, along with supportive commissioners advocating for market innovation.
Related Reading: Untapped Potential: XRP Signals a New Dawn in Crypto Trading
The upcoming XRP ETF will rank as the sixth cryptocurrency asset to receive its ‘33 Act ETF recognition, joining Bitcoin, Ethereum, Cardano, Stellar, and Chainlink ETFs. Intriguingly, Apex has been responsible for the existing Cardano and Chainlink ETF offerings. Dorsey forecasts that these funds may attract as much as $15 billion in investments within the first month, likely energizing the XRP market.
Presently, the price of XRP is hovering around $2.50, reflecting a near 4% increase in the past day, per information sourced from CoinMarketCap.
