XRP ETFs and Home Run Trades

Katie Randall

Hey everyone, welcome back to Crypto Dugout! I’m Katie Randall, and I’m here with my co-host, the one and only Crypto-Dan. Dan, you ready to talk some XRP and baseball?

Crypto-Dan

Always, Katie. I mean, this week’s been wild—between the ETF news and all the action on the diamond, I barely know where to start. But let’s kick it off with the XRP ETF stuff, right?

Katie Randall

Yeah, let’s do it. So, 3iQ just launched their XRPQ ETF on the Toronto Stock Exchange. It’s a big deal, not just because it’s the first of its kind in Canada, but Ripple’s actually an early investor in the fund. That’s a pretty strong signal, if you ask me.

Crypto-Dan

Yeah, and they’re waiving management fees for the first six months, which is kinda wild. I mean, you don’t see that every day. Plus, all the XRP is held in cold storage, so it’s not just some paper product. It’s the real deal, at least as far as ETFs go.

Katie Randall

Exactly. And it’s not just 3iQ—Purpose Investments also launched their own XRP ETF this week, and there are proposals in the U.S. too. Franklin Templeton’s got an XRP ETF in the works, and the SEC’s actually opened up a comment period. So, it feels like we’re at the start of this whole “altcoin ETF” wave, not just Bitcoin and Ether anymore.

Crypto-Dan

Yeah, and I think it’s interesting how Pascal St-Jean, the CEO at 3iQ, put it. He said XRP’s shown “significant growth potential over the past decade,” and this ETF is supposed to give people a transparent, low-cost way to get in. I mean, I’m not sure if it’s gonna be as big as the Bitcoin ETF boom, but it’s definitely a milestone.

Katie Randall

For sure. And honestly, I first got into XRP through an ETF. I was a little late to the party, but it was just easier for me to buy it in my retirement account, you know? I remember thinking, “Okay, this is regulated, it’s in cold storage, I don’t have to worry about losing my keys.” It’s not for everyone, but for a lot of people, it’s the only way they’ll ever touch crypto.

Crypto-Dan

Yeah, and with XRP consolidating for, what, almost 200 days now between $1.90 and $2.90, people are just waiting for that breakout. Some analysts are saying it could go to $3.70, $10, or even higher if the ETF demand really kicks in. But, you know, there’s always the risk it breaks down too. I’m not making any predictions, but it’s definitely a moment to watch.

Katie Randall

Totally. And just to be clear, none of this is investment advice. But it’s wild to see how fast the ETF landscape is changing, especially for altcoins like XRP. Alright, Dan, you wanna take us to the ballpark?

Crypto-Dan

Oh, you know I do. So, let’s talk trades. The big one this week: Rafael Devers got traded from the Red Sox to the Giants. He’s starting as DH, but they’re planning to move him to first base later. Boston got a haul back—Kyle Harrison, Jordan Hicks, James Tibbs III, and Jose Bello. That’s a serious shakeup for both teams.

Katie Randall

Yeah, and the Giants just got a lot scarier in the NL West. But honestly, the Cubs are stealing the show right now. They’re 17 games above .500, and Pete Crow-Armstrong is just on fire. Did you see that homer? And Seiya Suzuki with the three-run blast? They’ve got a 6.5-game lead in the NL Central. I mean, I don’t wanna jinx it, but they’re looking like real contenders.

Crypto-Dan

I did catch that! And, you know, as a former college athlete, I gotta say, the College World Series is bringing the drama too. Arkansas knocked out UCLA, so now it’s an SEC rematch with LSU. And Louisville had that wild rally in the ninth to edge out Oregon State. I mean, that’s the kind of stuff you remember forever—unless you’re on the losing side, which, uh, I’ve been there. Lost a playoff game on a buzzer-beater once, and I still think about it. Where was I going with this? Oh, right—those late rallies, they stick with you.

Katie Randall

Yeah, heartbreak city. But that’s what makes college sports so fun to watch. And this year’s College World Series is the first in the Super Regional era with no repeat participants. It’s just a totally fresh field, which is awesome. Oh, and quick shoutout—MLB legend Joe Torre is gonna be on the AL staff for the All-Star Game. That’s just cool.

Crypto-Dan

Definitely. And did you see Ohtani hit 100 miles per hour on the mound? The guy’s a freak. Plus, the Blue Jays walked it off with back-to-back homers, and Cal Raleigh hit a grand slam for the Mariners. Baseball’s just delivering this week.

Katie Randall

It really is. Alright, let’s shift gears back to crypto, because there’s a lot happening on that front too.

Crypto-Dan

Yeah, so the big regulatory news: the U.S. Senate passed the GENIUS Act, which is the first federal framework for dollar-backed stablecoins. It’s not law yet—it still has to go through the House, and there could be delays until 2026—but it’s a huge step. Banks will be able to issue their own stablecoins, and reserves have to be in safe, liquid assets like Treasuries. Tether and USDC are still the big players, but this could shake things up.

Katie Randall

And speaking of USDC, Coinbase is working with Nodal Clear to make USDC eligible as collateral for U.S. futures trading. It’s not live yet—they need CFTC approval—but if it happens, it’ll be the first regulated use of USDC as collateral in the U.S. That’s a big deal for stablecoin adoption in traditional markets.

Crypto-Dan

Yeah, and it’s all part of this bigger trend of institutions moving into crypto. We’ve got spot Bitcoin ETFs pulling in hundreds of millions, Ethereum ETFs too, and even talk of a federal Bitcoin reserve. But there’s a real debate about whether this is good for crypto’s original ideals. Like, Seth For Privacy is worried that all this institutional money could push Bitcoin away from privacy and self-custody, and make it just another Wall Street product.

Katie Randall

Right, but then you’ve got people like Orkun Mahir Kilic saying Bitcoin’s pretty resistant to outside influence, and that TradFi and crypto are kind of evolving together. I mean, I get both sides. On one hand, ETFs and custodians make it easier for regular people to get exposure. On the other, you lose some of that original cypherpunk spirit. I remember during the 2023 ETF boom, it felt like everyone was piling in, and it was easy to forget about the risks—like, you’re trusting someone else with your assets, and that’s not always what crypto’s supposed to be about.

Crypto-Dan

Yeah, and there’s no perfect answer. Institutional products bring scale and credibility, but they also introduce new risks and maybe some ideological drift. I guess the best we can hope for is a mix—let people choose between self-custody and regulated products, and see what works for them.

Katie Randall

Exactly. And for everyday investors, it’s all about understanding the trade-offs. There are rewards, but there are definitely risks too. Alright, Dan, I think that’s a wrap for today. We covered a lot—XRP ETFs, wild baseball trades, college heartbreaks, and the future of crypto markets.

Crypto-Dan

Yeah, that was a packed episode. Thanks for hanging out with us, everyone. We’ll be back next time to break down more crypto and baseball action. Katie, always a pleasure.

Katie Randall

You too, Dan. Thanks for listening, everyone—don’t forget to subscribe, and we’ll catch you in the next Crypto Dugout. Bye!

Crypto-Dan

See ya, folks!