Crypto research firm Kaiko says XRP could become the next big cryptocurrency to get a U.S. spot ETF approval, possibly even before Solana (SOL), Dogecoin (DOGE), or Litecoin (LTC).

加密研究公司Kaiko表示，XRP可能会成为获得美国ETF批准的下一个大加密货币，甚至可能在Solana（Sol），Dogecoin（Doge）或Litecoin（LTC）之前。

According to Kaiko, XRP has the most ETF filings among altcoins, with 10 active applications. Solana has five, while Litecoin and Dogecoin have three each.

根据Kaiko的说法，XRP在AltCoins中具有最多的ETF归档，并具有10个活动应用。 Solana有五个，而Litecoin和Dogecoin分别有三个。

XRP also stands out in terms of liquidity. It has the highest “1% market depth” among altcoins on major exchanges. This means there is strong buying and selling activity close to the market price, which the SEC sees as important for ETF approval.

XRP在流动性方面也脱颖而出。在主要交易所中，它的Altcoins中的“ 1％市场深度”最高。这意味着有强大的买卖活动接近市场价格，SEC认为这对于ETF批准很重要。

After the approval of Bitcoin and Ethereum ETFs, the crypto world is now wondering which altcoin will be next.

在比特币和以太坊ETF批准之后，加密货币世界现在想知道接下来是哪个山寨币。

According to the firm’s analysis, XRP appears to be ahead in the race.

根据公司的分析，XRP似乎在比赛中处于领先地位。

Back in December, Solana was leading in terms of ETF filings, with eight applications compared to five for XRP. However, by the end of 2024, XRP’s market strength grew even more, surpassing Solana and doubling Cardano.

早在12月，Solana就在ETF备案方面领先，其中八次申请与XRP相比五次。但是，到2024年底，XRP的市场实力越来越大，超过了索拉纳（Solana），并使卡尔达诺（Cardano）翻了一番。

Another key development was the launch of Teucrium’s leveraged XRP ETF (XXRP)— aiming to double XRP’s daily return. Interestingly, this product was approved before a basic spot ETF. Experts say if a risky leveraged ETF is allowed, there’s little reason to delay a simple spot version.

另一个关键的发展是Teucrium杠杆XRP ETF（XXRP）的推出，旨在使XRP的每日回报倍增。有趣的是，该产品在基本斑点ETF之前获得了批准。专家说，如果允许使用危险的ETF，那么几乎没有理由延迟简单的现场版本。

New SEC Chair May Bring Faster ETF Decisions

新的SEC主席可能会带来更快的ETF决定

This change in leadership could lead to faster and more positive ETF decisions. Several major players, including Grayscale, VanEck, and Bitwise, have already filed for spot crypto ETFs, with XRP among them.

领导力的这种变化可能会导致更快，更积极的ETF决策。包括Grayscale，Vaneck和Bitwise在内的几个主要参与者已经为Spot Crypto ETF申请，其中包括XRP。

Further, a key date to watch is May 22, when the SEC is set to respond to Grayscale’s XRP ETF application.

此外，关键日期是5月22日，当SEC设置为响应Grayscale的XRP ETF应用程序时。

According to Prediction market Polymarket, there’s an 80% chance that a spot XRP ETF will be approved by the end of 2025.

根据预测市场多头市场，在2025年底之前将获得80％的XRP ETF批准。

Garlinghouse also confirmed that their legal battle with the SEC had ended, removing a major barrier to ETF approval.

Garlinghouse还确认，他们与SEC的法律斗争已经结束，消除了ETF批准的主要障碍。