In January 2024, the SEC approved the first cryptocurrency exchange-traded fund (ETF), creating a new niche in the cryptocurrency market. Following the approval of the Bitcoin ETF, several significant ETFs have been launched, including Ethereum ETH ETFs. Additionally, numerous applications, such as the one for Ripple XRP ETF, have been submitted and are trending before approval.
ETF trading exchanges have also received significant attention due to the increased demand for the instrument. DTX Exchange (DTX) is being noticed due to its highly efficient ETF trading facility, including tokenized ETF trading. Pioneering in a hybrid system, DTX Exchange also brings traditional assets to the Web3 platform.
Ethereum ETFs Hit All-Time Highs as Institutional Inflows Surge
Last week, Ethereum products saw record-breaking inflows of $1.2 billion, surpassing the volumes from their initial launch. This surge in demand for ETH ETFs highlights a growing shift in the market, where institutional players are driving price movements.
The impressive momentum of Ethereum ETFs is evident, with Fidelity’s ETH ETF (FESH) contributing $202.2 million and BlackRock’s ETH ETF (ETHA) garnering $81 million in inflows. Daily inflows into ETH ETFs on Wednesday alone reached an astounding $305 million.
Ethereum’s price has found support for nearly $3,500 in the 4-hour timeframe, forming a reversal. If this reversal follows through, this could be a turning point for the coin. The continuous Ethereum ETH ETFs inflow has affected the price, stopping it from going down further.
Ripple XRP ETF Rumors And RLUSD Approval Strengthen Price
Ripple’s price bounced back on Tuesday to a high of $2.42 after a sell-off across cryptocurrency markets on December 10 wiped out over $1.5 billion due to heightened geopolitical tensions. By December 11, Ripple had been trading above the 10-DMA, supported by New York regulators approving Ripple’s RLUSD stablecoin launch.
Meanwhile, WisdomTree, Bitwise, and Canary Capital have submitted proposals for spot XRP ETFs, which could boost Ripple’s legitimacy alongside Bitcoin and Ethereum. The XRP ETF approval can take the price near the $3 target. If key support levels hold, the current pullback might offer investors an opportunity. A breakout above $2.10 would confirm recovery, but the next few days will be crucial.
DeFi Sensation DTX Exchange Gains Popularity As Multi-Utility Platform
As per projections, with XRP ETF approvals nearing, investors need a capable ETF trading platform that can maintain liquidity and order flow. With its multi-utility trading platform and access to traders worldwide, DTX Exchange (DTX) has become the top choice for ETF investors. This platform allows investors to access ETF instruments in crypto, stocks, commodities, and unique tokenized assets.
This diverse option availability and advanced features, such as distributed liquidity pools, have made DTX Exchange a potential leader in the ETF trading industry. In addition to trading, DTX Exchange is known for its diverse utilities like DEX swapping, staking, and income generation programs, which have attracted a user base of 1.4 million in a short period, which have attracted a user base of 1.4 million in a short period.
The DTX Exchange ecosystem is supported by the VulcanX blockchain, which is famous for achieving 10,000 TPS. The platform is also compatible with the Phoenix Wallet, which allows direct transactions without requiring KYC registration. This makes it easier for the underbanked to invest freely and anonymously.
The DTX token presale has reached $10.13 million in the sixth stage for $0.12. Experts believe this is just the beginning, as its trailblazing trading capabilities could disrupt the trillion-dollar trading industry.
Learn more:
