XRP is trading just above $3.30, gaining more than 9% in the past 24 hours. The rally comes even as the U.S. government shutdown has frozen the Securities and Exchange Commission (SEC), halting all progress on pending spot XRP ETF applications. Analysts say the lack of movement is not due to rejection but simply because no staff are available to review or approve filings.
Currently, six XRP ETF proposals remain active from Grayscale, 21Shares, Bitwise, WisdomTree, Canary Capital, and CoinShares. Once the SEC resumes operations, multiple approvals could be issued at once, similar to the wave of Bitcoin ETF approvals earlier this year.
Canary Capital CEO Predicts Record ETF Inflows
In a recent interview with Paul Barron, Steven McClurg, CEO of Canary Capital, reiterated his bold outlook for XRP ETFs. He initially predicted $5 billion in inflows within the first month, but now says the number could climb as high as $10 billion.
“I think it’s a very safe bet,” McClurg said. He recalled how the first Bitcoin futures ETF he worked on drew more than $1 billion on its first day, ranking among the top ten ETF launches in history. Given how Bitcoin saw over $3 billion in a single day, he said it wouldn’t be surprising if XRP ETFs reached $2–3 billion on day one.
Such inflows, he added, would place XRP ETFs among the top 20 ETFs of all time, potentially even the top 10, depending on market conditions at launch.
Regulatory Path Remains Critical
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