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XRP ETF in Limbo as SEC Stay Order Clouds Outlook; BTC hits $120k
XRP and crypto-spot ETFs took center stage as investors await the SEC’s ETF framework/listing standards. The SEC approved the Bitwise 10 Crypto Index Fund’s (BITW) conversion into an ETF. However, the agency also issued a stay order, preventing the ETF’s launch. BITW will provide investors exposure to BTC and leading cryptocurrencies, including ETH, XRP, SOL, ADA, SUI, LINK, AVAX, LTC, and DOT. As of July 21, XRP accounted for 6.7% of the fund’s holdings, ranking #3 behind BTC (73.2%) and ETH (14.2%). However, the launch delay adds to uncertainty over the timeline for launching an XRP-spot ETF, weighing on ... (full story)
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