Market attention is focusing as the US prediction market platform Kalshi moves to list perpetual futures products based on numerous altcoins, including Ripple (XRP). It was recently reported that Kalshi has submitted an application to the US Commodity Futures Trading Commission (CFTC) for perpetual futures products related to 12 altcoins, including XRP, Ethereum, and Solana.

While Bitcoin is currently experiencing a sluggish phase, the market views this application as a crucial testing ground for expanding the altcoin derivatives market within the US mainstream financial system. In particular, there are positive assessments that if XRP expands its scope of utilization as a mainstream financial product in the future, the channels for institutional capital inflow could broaden.

However, a significant amount of time is expected to be needed before approval. The CFTC maintains its position that it will individually review the liquidity, volatility, and market structure of each asset for altcoins other than Bitcoin. As regulators have also pointed out that the high volatility of some altcoins could pose a risk to investor protection, the final approval remains uncertain.

Meanwhile, Coinbase announced that it has made a strategic investment in ProShares' money market ETF, 'IQMM (ProShares' GENIUS Money Market ETF)'. The ETF is a money market fund tailored to the GENIUS Act, investing in ultra-short-term US Treasury bonds with maturities of 93 days or less, cash, and cash equivalents.

[※ This article was written for the purpose of providing investment information, and the investment decision and responsibility lie with the investor. It was written using AI.]