XRP可能是在美国获得ETF批准的下一个加密货币

XRP由于其卓越的市场流动性和最近的杠杆ETF发布，XRP可能成为获得美国ETF批准的下一个主要加密货币

XRP could be the next major cryptocurrency to receive a spot ETF approval in the U.S., thanks to its superior market liquidity and recent leveraged ETF launch, according to analysts at Kaiko, a crypto research and data platform.

Crypto Research and Data Platform Kaiko的分析师表示，XRP可能是下一个在美国获得现货ETF批准的主要加密货币。

Among altcoins, XRP currently boasts the highest 1% market depth on major centralized exchanges — meaning there are significant buy and sell orders near the current price, which minimizes slippage and supports smoother, more efficient trading.

在AltCoins中，XRP目前拥有主要的主要集中交易所的最高1％的市场深度 - 这意味着在当前价格附近有大量的买卖订单，这可以最大程度地减少滑倒，并支持更平稳，更有效的交易。

“A highly liquid spot market is important for creating efficient structured products, and the former SEC leadership was highly sensitive to this,” Kaiko’s analysts noted in their Monday report.

凯科（Kaiko）的分析师在周一的报告中指出：“高度流动的现货市场对于创造有效的结构化产品很重要，而前SEC的领导力对此非常敏感。”

“This lack of market depth was often cited by the SEC in rejecting applications for U.S. cryptocurrency ETFs, as they argued that the small trading volumes and large price dislocations at the 1% depth made for an insufficiently liquid market.”

“ SEC经常在拒绝美国加密货币ETF的申请时引用这种缺乏市场深度，因为他们认为，在1％深度的较小的交易量和较大的价格脱位造成了液体市场不足。”

XRP’s liquidity surged notably toward the end of 2024, surpassing that of Solana (SOL) and doubling that of Cardano (ADA). The momentum was fueled by growing speculation that Donald Trump’s return to the presidency — coupled with pro-crypto sentiment — could fast-track the end of the SEC’s legal dispute with Ripple, which had long hindered the approval of an XRP spot ETF.

XRP的流动性急剧飙升至2024年底，超过了Solana（Sol），并使Cardano（ADA）的流动性增加了一倍。越来越多的猜测是，唐纳德·特朗普（Donald Trump）返回总统职位（再加上亲克赖特托的情绪）可能会加快SEC与Ripple的法律纠纷的结束，这一直阻碍了XRP Spot ETF的批准。

(Chart: Kaiko)

（图表：kaiko）

The altcoin is also leading the charge in active ETF filings. According to Kaiko data, the altcoin has 10 spot ETF applications pending, more than any other altcoin. Solana follows with five filings, while Litecoin (LTC) and Dogecoin (DOGE) each have three.

AltCoin也在主动ETF申请中领导电荷。根据Kaiko Data，AltCoin比任何其他Altcoin都有10个斑点ETF应用程序。索拉纳（Solana）随后提交了五份文件，而莱特币（LTC）和狗狗（Dogecoin）（门多格（Doge））每个都有三个。

The wave of applications comes amid a shakeup in the SEC’s leadership. Industry-friendly Paul Atkins is expected to take over from Gary Gensler as SEC Chair after being confirmed by the Senate last week. His appointment is widely expected to usher in a more crypto-positive regulatory approach.

在SEC的领导层进行了重组，申请浪潮是出现的。上周参议院确认后，对行业友好的保罗·阿特金斯（Paul Atkins）预计将接管加里·加斯勒（Gary Gensler）担任SEC主席。他的任命被普遍期望引入更加加密阳性的监管方法。

After months of anticipation, the U.S. Congress approved a measure to extend the government funding deadline until Nov. 17, averting a shutdown that had threatened to stall the confirmation of several key administration officials, including Atkins.

经过几个月的期待，美国国会批准了一项将政府资助截止日期延长到11月17日的措施，避免了停工，该关闭迫使他们停滞不前确认包括阿特金斯在内的几位主要政府官员。

The move paves the way for a swifter approval of President Trump’s nominees, such as Paul Atkins, to take over as SEC Chair from Gary Gensler.

此举为特朗普总统的提名人（例如保罗·阿特金斯）的批准铺平了道路，以接任加里·根斯勒（Gary Gensler）的SEC主席。

Atkins, a former commissioner at the Commodity Futures Trading Commission (CFTC), is known for his favorable stance on cryptocurrencies and decentralized finance (DeFi). During his time at the CFTC, Atkins was a vocal advocate for adapting U.S. futures regulations to accommodate the unique characteristics of crypto assets.

商品期货贸易委员会（CFTC）的前专员阿特金斯（Atkins）以其对加密货币和分散财务的有利立场而闻名。在CFTC期间，阿特金斯（Atkins）是调整美国期货法规以适应加密资产独特特征的声音倡导者。

Atkins’s appointment to the SEC is expected to bring a more balanced and nuanced perspective to the commission’s approach toward crypto regulation. Unlike Gensler, who has been accused of harboring anti-crypto biases, Atkins is recognized for his understanding of blockchain technology and its potential to revolutionize financial services.

预计阿特金斯对SEC的任命有望为委员会的加密法规带来更加平衡和细微的观点。与被指控具有反列克斯托偏见的Gensler不同，Atkins因理解区块链技术及其对革新金融服务的潜力而受到认可。

Moreover, the Trump administration has shown increasing support for cryptocurrencies. In July, Trump himself expressed hope that the SEC would quickly approve bitcoin (BTC) ETFs.

此外，特朗普政府对加密货币的支持越来越多。 7月，特朗普本人表示希望SEC迅速批准比特币（BTC）ETF。

“I hope they approve it. I think it’s something that a lot of people want to see happen, and I think it would be a positive development for the cryptocurrency industry,” Trump said in an interview with FOX Business.

特朗普在接受Fox Business的采访时说：“我希望他们批准。我认为这是很多人希望看到的事情，我认为这对加密货币行业来说将是一个积极的发展。”

The former president’s remarks came shortly after the SEC announced a delay in its decision on applying for bitcoin ETFs, which were initially expected to be approved by July 11.

前总统的言论发表在SEC宣布申请申请比特币ETF的决定延迟之后不久，最初预计将在7月11日批准。

Trump’s administration has also taken steps to promote financial innovation and reduce regulatory burdens on U.S. businesses. In 2020, the administration issued an executive order on federal cryptocurrency regulation, directing agencies to coordinate their efforts and prioritize consumer protection and financial stability.

特朗普的政府还采取了措施来促进金融创新并减轻美国企业的监管负担。 2020年，政府发布了有关联邦加密货币法规的行政命令，指示机构协调其努力并优先考虑消费者保护和财务稳定。

Levaraged XRP ETF Launches

Levared XRP ETF启动

Meanwhile, Teucrium launched its leveraged XRP ETF — XXRP — on Friday, marking another milestone for the altcoin. The ETF, which will use futures and swap contracts to aim for 2x the daily return of XRP, is the first XRP ETF to launch in the U.S.

同时，周五，Teucrium在周五推出了其杠杆XRP ETF -XXRP，标志着Altcoin的另一个里程碑。 ETF将使用期货和掉期合同将XRP的每日回归目标2倍，是美国第一个在美国推出的XRP ETF

However, the SEC has yet to greenlight a spot version.

但是，SEC尚未绿灯版本。

“Despite the lack of a spot XRP ETF, the approval of Teucrium’s leveraged product is noteworthy as it showcases the SEC’s increasing openness toward new types of crypto ETFs,” Kaiko analysts said.

Kaiko分析师说：“尽管缺乏XRP ETF，但Teucrium杠杆产品的批准值得注意，因为它展示了SEC对新型加密ETF的开放性的日益开放。”

The approval of XXRP also comes amid a broader shift in regulatory sentiment toward cryptocurrencies, driven in part by the Trump administration’s focus on promoting economic growth and technological innovation.

XXRP的批准也出现在监管情绪向加密货币的更大转变中，部分原因是特朗普政府专注于促进经济增长和技术创新。

“This changing tide could be crucial for the finalization of a spot XRP ETF application, setting the stage for the next chapter in the U.S. crypto derivatives market.”

“这种变化的潮流对于最终确定XRP ETF应用程序至关重要，这为美国加密衍生品市场的下一章设定了阶段。”