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XRP DEX Surpasses $1 Billion in Swap Volume; Dogecoin ETF on the Horizon

Coin WorldTuesday, Jan 28, 2025 5:58 pm ET

1min read

The XRP Ledger’s decentralized exchange (DEX) has achieved a significant milestone, surpassing $1 billion in swap volume. This achievement comes as the market anticipates potential ETF approvals in 2025, signaling a growing interest in cryptocurrency investment vehicles.

The XRP Ledger’s DEX has been gaining traction among investors, with its user-friendly interface and robust security features. The platform allows users to trade XRP and other digital assets directly from their wallets, eliminating the need for intermediaries. This decentralized approach has contributed to the DEX’s growing popularity and swap volume.

The anticipation of ETF approvals in 2025 has further fueled interest in cryptocurrency investments. As the regulatory landscape evolves, investors are increasingly seeking exposure to digital assets through exchange-traded funds. The potential approval of ETFs could provide a more accessible and regulated way for investors to gain exposure to cryptocurrencies like XRP.

Bitwise Asset Management has also made headlines recently with its filing to launch a Dogecoin ETF. This move signals a significant step in the integration of meme-based cryptocurrencies into mainstream finance. The filing comes after Bitwise registered a Dogecoin trust in Delaware, reflecting an increasing interest from institutional investors in digital assets, particularly those with substantial community support.

James Seyffart, a Bloomberg ETF analyst, emphasized the importance of this filing, stating: “This makes it official with the SEC,” underlining the growing legitimacy of Dogecoin within financial markets. The potential approval of a Dogecoin ETF represents a pivotal moment for both investors and issuers, as it could bring greater liquidity and stability to trading DOGE.

Bitwise’s strategic move to launch a Dogecoin ETF is poised to make waves in the cryptocurrency landscape. The fund aims to hold actual Dogecoin (DOGE) and track its market price closely. This decision not only signals a shift in the acceptance of meme-based cryptocurrencies but also illustrates the evolving landscape of cryptocurrency investment options available to the public.

The potential approval of a Dogecoin ETF represents a pivotal moment for both investors and issuers. As Dogecoin has achieved a remarkable $47 billion market cap and currently holds the rank of the eighth-largest cryptocurrency, the ETF aims to bring greater liquid

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