XRP Financial Products Gain Popularity, Bitcoin and Ethereum ETFs Falter
The US crypto market continues to await the possible approval of a spot Bitcoin ETF with tense anticipation. However, products that allow for crypto investments and are not direct are gaining popularity in the financial world.
With these products, Bitcoin and Ethereum have so far been the frontrunners. Meanwhile, financial instruments based on spot prices have not been approved for broader sales in the US, leaving only niche players to offer similar products elsewhere.
Currently, Ripple Labs has a reason to rejoice as the demand for its crypto token XRP is increasing. This trend is evident in the continually growing interest in products with XRP, which is reminiscent of Bitcoin’s path. Just recently, Ripple Labs managed to establish XRP in several well-regarded rating agencies and became the most preferred cryptocurrency product.
In contrast, products on Bitcoin and Ethereum have recently experienced weakening popularity. This shift indicates the continued interest in Ripple’s XRP and its growing importance in the industry. While it’s clear that the hype surrounding XRP hasn’t reached its peak yet, it’s also true that XRP is cementing itself as an important investment alternative alongside Bitcoin and Ethereum.
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