2024-7-16 19:07 |
There were predictions that a Spot XRP ETF would be filed following the approval of the Spot Bitcoin and Ethereum ETFs. However, that didn’t happen, as VanEck filed a Spot Solana ETF instead. Meanwhile, ETFSwap (ETFS) is undoubtedly one of the biggest beneficiaries of a Spot Solana ETF and the Spot XRP ETF, which could still be filed at some point.
Why VanEck Filed For A Spot Solana ETF Instead Of A Spot XRP ETFDuring an interview with Tony Edwards of Thinking Crypto, VanEck’s Head of Digital Assets Research, Mattew Sigel, explained that they filed for a Spot Solana ETF because Solana shares characteristics with Ethereum. He mentioned that they analyzed their Ethereum filing and noticed their language about the decentralization and characteristics of the blockchain, which drew their attention to SOL.
Sigel claimed that they concluded that Ethereum and Solana are “fundamentally the same” since “no single entity controls more than 20%” of SOL’s circulating supply, nor can anyone unilaterally halt the network. This ultimately led VanEck to file for the first-ever US Spot Solana ETF, while the crypto community must wait to see if a Spot XRP ETF could be next.
21Shares, another asset manager, followed VanEck’s move as they filed for a Spot Solana ETF shortly after VanEck’s application. It remains to be seen whether or not other asset managers will file for a Spot Solana ETF. Meanwhile, while it remains uncertain whether or not a Spot XRP ETF will be filed next, approval of a Spot Solana ETF will undoubtedly pave the way for this to happen.
ETFSwap (ETFS) To Witness Increased Demand Thanks To These Crypto ETFsETFSwap (ETFS) will witness an increased demand if a Spot Solana ETF and Spot XRP ETF launch. The crypto token will be used to invest in the decentralized investment platform ETFSwap, which tokenizes these funds and enables them to be traded on-chain.
The decentralized finance (DeFi) platform is already gaining much traction because it provides an easier way for investors to partake in the crypto ETF revolution. The platform’s decentralized nature means Investors can trade this Spot Solana ETF and Spot XRP ETF (if they eventually launch) without authorization.
Like the Spot Ethereum ETF, a Spot Solana ETF and Spot XRP ETF are unlikely to include staking plans. Thankfully, ETFSwap (ETFS) offers a staking feature which allows investors to stake their Solana (SOL) and Ripple (XRP) tokens and earn mouth-watering yields while also investing in the crypto ETFs.
Investors can also stake the ETFSwap (ETFS) token and earn staking rewards of up to 75% annual percentage yield (APY) on their staked tokens. Additionally, ETFS provides access to the trading platform’s various commodities, including gold, silver, rubber, and crude oil.
Meanwhile, user privacy has undoubtedly become a major issue nowadays. ETFSwap has ensured investors do not have to worry about this while using the trading platform. Zero-knowledge (ZK) proof technology has been integrated into the platform, which allows users to remain anonymous while trading. ETFSwap can easily confirm each user’s personhood without needing sensitive information.
It is also worth mentioning that the ETFSwap (ETFS) team has proven its commitment to the trading platform’s long-term success. They recently underwent a Know-Your-Customer (KYC) verification process and were certified by the auditing firm Solidproof, having met all the requirements for the verification process.
Conclusion On Not Missing Out On ETFSwap (ETFS)ETFSwap (ETFS) is undoubtedly undervalued at its current price of $0.0183. However, the crypto token could skyrocket anytime now with a Solana Spot ETF on the horizon. That is why it is important to act now, so you do not have to FOMO when the crypto token begins to make unprecedented price gains.
For more information about the ETFS Crypto Presale:
Visit ETFSwap Presale
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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.
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