An XRP ETF could launch soon enough in the United States (US) following applications by Bitwise and Canary Capital. Analysts predict that the XRP ETF will spark a surge in the XRP price.
These analysts also stated that the Ethereum token ETFSwap (ETFS), currently selling at $0.03846, will benefit from this XRP ETF.
Analysts Say XRP Price Will Benefit From XRP ETF
Analysts have said that an XRP ETF will benefit the XRP price. This comes following the applications by Bitwise and Canary Capital to offer an XRP ETF. These funds will cause more money from institutional investors to flow into the XRP ecosystem, triggering a rally for the XRP price.
These analysts cited how the Spot Bitcoin ETFs contributed to Bitcoin (BTC) hitting a new all-time high (ATH) earlier in March. In line with this, these analysts predicted that an XRP ETF would lead to a new ATH for the XRP price. An XRP ETF is undoubtedly a welcome development for the XRP price, considering how the crypto has underperformed in this market cycle.
XRP ETF To Also Trigger Price Rally For ETFSwap (ETFS)
Analysts have also said that an XRP ETF will trigger a price rally for the Ethereum token ETFSwap (ETFS) from its current price of $0.03846. Interestingly, these analysts added that the price rally for the Ethereum token will be more massive than the one that the XRP price will witness, stating that ETF could enjoy up to a 5,000% price increase.
This bullish prediction for ETFSwap (ETFS) is because the XRP ETF will be tokenized on the ETFSwap (ETFS) when it launches. Therefore, the millions of dollars invested in the fund will flow through ETFS since investors will need the Ethereum token to access the XRP ETF on the decentralized finance (DeFi) platform.
Investors will simply swap the ETFSwap (ETFS) token for the XRP ETF on the ETFSwap platform. These analysts are confident that most of the inflows into the XRP ETF will pass through ETFS since ETFSwap (ETFS) is on course to become the go-to platform for trading ETFs once its beta platform goes live.
There are no Know-Your-Customer (KYC) requirements on ETFSwap, meaning investors can start investing quickly. It offers 24/7 market coverage, allowing users to buy, sell, and trade their ETFs anytime. This means investors can benefit from the market gains these ETFs record after traditional trading hours.
Furthermore, the platform will allow users to trade anonymously, as it will integrate zero-knowledge (ZK) proof technology. This means that users can trade without revealing their identity or any of their sensitive information. Meanwhile, investors will be able to stake their ETFs, including the XRP ETF, if eventually approved.
This staking feature extends to crypto assets on the ETFSwap (ETFS) platform, including the platform’s native ETFS token. Those who stake the Ethereum token can earn up to 87% annual percentage yield (APY) on their staked tokens. It is worth mentioning that investors will also need the Ethereum token to access and invest in cryptocurrencies on the trading platform.
The ETFSwap (ETFS) team has already announced that the wait for the ETFSwap beta platform is almost over. The platform has already gone live on the Ethereum testnet, and the team is working to implement the necessary changes so users can get the best user experience.
Once the platform goes live, investors will be able to buy their popular ETFs using the Ethereum token. They will also have access to the liquidity pools for token swaps and can provide liquidity, earning up to 30% of fees made from token swaps.
Conclusion
With analysts predicting that ETFSwap (ETFS) rally by 5,000% following the approval of an XRP ETF, investors stand to gain more on the Ethereum token than betting on the XRP price. Therefore, now is the best time to prepare for this imminent price surge by as many ETFSwap (ETFS) tokens as you can in its ongoing presale.
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
