XRP: The Frontrunner for the Next Spot Crypto ETF?

Hang onto your hats, crypto fans! Kaiko's latest research is dropping bombshells, and XRP is stealing the spotlight as the top contender for the next spot crypto ETF approval. That's right, XRP is leading the charge with a whopping 10 ETF filings, leaving Solana in the dust with just five.

XRP's not just playing the numbers game; it's dominating the field. According to Kaiko's report, XRP and Solana are both in the running, but XRP's got the edge with its mind-blowing liquidity in the spot market. The SEC's got its eyes on this, and you know they love a liquid market.

XRP's Liquidity: The Secret Weapon for ETF Approval

Kaiko's not messing around when they say XRP and Solana are the cream of the crop for ETF approval. These two assets are swimming in liquidity, boasting the highest 1% market depth you've ever seen. That's right, they're the kings of near-the-price liquidity, and the SEC can't ignore that.

But let's talk about XRP's meteoric rise. Its market depth skyrocketed near the end of 2024, and it even overtook Solana by market cap. Talk about a power move! Still, neither XRP nor Solana has an active futures market, which Kaiko says was a big deal for the SEC when they green-lit Bitcoin's ETF.

Here's the kicker: XRP's trading volume is mostly happening outside the U.S., which has the SEC raising an eyebrow. But hold up, XRP's been making a comeback in the domestic market since its delisting from U.S. exchanges in 2021. That's right, it's staging a comeback, and it's putting Solana to shame.

Solana, on the other hand, is struggling to keep up. Its domestic trading volume has been tanking, dropping from a solid 30-25% range down to a measly 16%. XRP's pulling ahead, and it's not just about the numbers; it's about the comeback story that's got everyone talking.

(XRP) (SOL)