The post Step-by-Step Guide To Invest in America’s First Spot XRP ETF appeared first on Coinpedia Fintech News
After months of reviewing, the United States may finally see its first ETF launch on Thursday, tomorrow. Bloomberg analysts confirmed that REX-Osprey XRP ETF (XRPR) and the Dogecoin ETF (DOJE) are scheduled to list on September 18, following a short delay from their initial Sept. 12 target.
To make the investment easier, here are the steps to follow.
How to Invest in REX-Osprey XRP ETF?
- Open a brokerage account
Sign up with a U.S. broker or investing app that offers the XRPR ETF of Rex Osprey. Popular ones in the US include Fidelity, Charles Schwab, E*TRADE, or TD Ameritrade, where people can open investment accounts to buy and sell things like stocks, ETFs, mutual funds, and more.
- Add money to your account
Deposit U.S. dollars using a bank transfer (ACH), wire, or any other payment options your broker supports.
- Search for ETF
The next step is to locate the XRP spot ETF using its ticker “XRPR” via the broker’s trading platform. You can check the price there.
- Place tour order
Choose how many shares to buy and place a market or limit order during market hours. Shares can be bought and sold like any other stock or ETF, typically with a T+2 settlement period, meaning the trades will settle in two business days.
- Monitor your holdings
Track your investment from your brokerage dashboard, review daily price updates, and consider the potential volatility and fees. Typically, management fees are low, but it’s important to confirm exact rates with the fund documentation.
ETF Market to Become Payment Centric?
According to Forbes, this XRP ETF launch can extend crypto’s integration into the regulated financial system. It will evolve from Bitcoin’s ‘digital gold’ and Ethereum’s ‘smart-contract fuel’ to XRP’s payments-centric asset.
XRP is currently ranked at the top 3, and is popular across the world for its fast and feasible payment service. But despite its wide utility and big market cap, it is still important to follow SEC notices for updates. The agency sought public comments to review the ETF before approving, aiming to eliminate the risk factors.
