Despite the rumors that the SEC approved the Spot XRP ETF, it is inaccurate. The only new development concerns Proshares leverage and a short XRP Futures ETF, which will start trading on April 30th.
It is unclear how much these false claims today affected the XRP price, but they caused a lot of confusion. Fake Crypto News has recently started and can negatively affect investors' confidence.
The US Spot XRP ETF is not yet here
The crypto industry is full of enthusiasm for XRP ETF, especially after one started trading in Brazil last week.
However, there is no shortage of people who can spark and circulate Optimistic rumors. Proshares new futures ETF really won approval, but it does not affect the ETF on the spot:
Bitcoin, the first cryptocurrent ETF category, achieved the Futures ETF before the point. In a sense of SECs approval XRP futures ETF is a positive sign.
The Commission has the upcoming deadline for rejecting or approving these proposals, and experts believe that approval is very likely. Unfortunately, this does not change the reality of today.
The price of the XRP has been zigzagged with significant setbacks over the last 24 hours. It is not fair to say that ETF Hype is a source of all XRP movements; Several circumstances can contribute to the situation.
However, rumors have recently been proven to crypto markets, even if they are completely wrong. These filthy claims may have influenced the XRP.
The confusion does not help to build a stable industry. Even if the wrong ETF rumors temporarily increase the performance of the XRP, this is not a sign of long-term ecosystem health. Malnatural information can significantly impair public confidence, especially among retail investors.
For example, Eleanor Terrett commented To these rumors, claiming that he is ill from all the rude keyboard warriors of this community.
Apparently, he received the web-based hostility for trying to explain the news decision, even though it was a respected source of both right and crypto-propaging reflection.
Spot ETF vs Futures ETF – What are the differences?
Spot ETFs hold direct XRP marks, providing investors in contact with the actual cryptocurrency. Their ETFs aim to reflect the XRP's real-time market price. So there is a straight correlation between the value of the fund and the symbolic place price.
As of now, Spot XRP ETFs are not approved in the US. The applications of companies such as Grayscale and Bitwise are under review.
In the meantime, the amplified futures do not hold the ETF directly XRP. Instead, they invest in futures contracts that speculate on the future price of the XRP.
Due to the day-to-day reset of the Union, these ETFs may experience significant volatility and may not be suitable for long-term storage.
Even if these XRP ETF rumors came from a real misunderstanding, they are still dangerous. In the future, the community must be careful to check its sources and act in good faith to maintain public confidence.
Giving up
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