SMQKE (@SMQKEDQG), a respected crypto researcher on X, recently highlighted XRP’s accelerating momentum in the race for crypto-related ETFs. He believes the asset is next in line, and this view aligns with current data from Kaiko Research, which shows a clear increase in filings and market strength for XRP.
Yes, XRP is next in line for an ETF.✅
Documented.📝💨 pic.twitter.com/XHulv1eUBp
— SMQKE (@SMQKEDQG) April 21, 2025
SEC Leadership Change Creates a New Landscape
The recent appointment of Paul Atkins as the new SEC Chair, confirmed by the Senate, marks a potential turning point for digital asset regulation. Given the number of ETF applications, crypto is expected to take a more prominent role during his tenure.
Kaiko noted that XRP leads all other digital assets in live ETF application filings, with more than ten submissions, double that of Solana (SOL), the next closest asset. Additionally, the SEC has publicly acknowledged these filings, bolstering the faith of market participants that it will approve them.
XRP and Solana Lead in Liquidity
Kaiko Research emphasizes that XRP and Solana “stand out as two of the most popular assets for ETF applications and are also among the most liquid.”
This liquidity is key for institutional products like ETFs, which require stable and efficient price execution in spot markets. XRP and SOL top the list for 1% market depth across vetted exchanges, a metric used to gauge how much volume can be traded without significantly moving the price.
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XRP’s Market Depth Surpasses Competitors
Recent liquidity trends further support XRP’s ETF readiness. XRP’s market depth has increased notably since late 2024, surpassing Solana and more than doubling Cardano (ADA). Kaiko’s chart on altcoin market depth confirms this shift, showing XRP surging past $11 million in average 1% depth during early 2025, well ahead of its competitors.
This performance highlights rising demand and improved order book stability, two essential conditions for ETF structuring. Ripple CEO Brad Garlinghouse previously described XRP ETFs as inevitable, and the asset is perfectly prepared to host these investment vehicles.
ETFs Could Be an Early Focus for the New SEC Chair
This development comes at a critical moment for crypto ETF applicants. A slew of asset managers have lined up proposals, and the pressing deadlines could force the SEC to take early positions on which assets move forward.
With XRP dominating both application count and market structure quality, it may be the logical next candidate for regulatory approval. The shift in SEC leadership may also prove favorable.
The former SEC administration held a strong anti-crypto stance, but Atkins, stepping into this environment, could decide to distinguish his term early by approving ETFs tied to the most robust and liquid crypto assets.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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