Loading...

XRP ETF optimism grows in the wake of Bitcoin ETF success

XRP ETF

Most read

Loading Most Ready posts..

TL;DR

  • The SEC’s recent approval of 11 Bitcoin spot ETFs has sparked speculation about a potential XRP ETF.
  • Prominent figures in the cryptocurrency world are expressing confidence in the imminent launch of an XRP ETF.
  • The XRP ETF optimism is linked to the SEC’s progressive stance on cryptocurrencies and mainstream acceptance.

With the U.S. Securities and Exchange Commission (SEC) approving multiple Bitcoin spot exchange-traded funds (ETFs), speculation is mounting within the cryptocurrency community about the potential for an XRP ETF. Prominent crypto world figures are confident that such a development is imminent, particularly following the SEC’s recent approvals.

Cryptocurrency experts anticipate XRP ETF launch

The optimism for an XRP ETF is fueled by the SEC’s landmark decision on January 10 to grant licenses for 11 Bitcoin spot ETFs. This move, seen as a significant step forward for cryptocurrency mainstream acceptance, has set the stage for other digital currencies to follow suit. Among those believed to be next in line is XRP, a digital asset linked to Ripple, a company currently embroiled in a legal battle with the SEC.

Panos Mekras, a well-known figure in the cryptocurrency community and co-founder of Anodos Finance, expressed his anticipation for an XRP ETF on social media. Zach Rector, a crypto YouTuber known for his support of XRP, also voiced his expectation for such a development, highlighting that introducing an XRP ETF does not necessarily categorize XRP as a security.

Legal hurdles and market potential

Despite the growing anticipation, some crypto community members are cautious, pointing out that the launch of an XRP ETF may hinge on the resolution of the ongoing SEC vs. Ripple case. The case centers on classifying XRP sales to institutions and remains a significant legal hurdle.

On the other hand, the optimism is partly based on recent market movements. For instance, Grayscale’s reinstatement of XRP in its Digital Large Cap Fund is a positive indicator. Moreover, the Chief Investment Officer of Valkyrie, a firm approved for a Bitcoin ETF, hinted that an XRP ETF might emerge alongside an Ethereum spot ETF. However, he expressed uncertainty about Valkyrie pursuing an XRP ETF specifically.

The SEC’s approval of Bitcoin spot ETFs has opened the doors for other cryptocurrencies to gain similar recognition. The XRP community, buoyed by recent developments and expert opinions, eagerly anticipates the potential approval of a Ripple ETF. While the legal challenges involving Ripple continue, the market sentiment and recent trends indicate a growing possibility of XRP joining the ranks of Bitcoin in the ETF market.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Share link:

Mutuma Maxwell

Maxwell especially enjoys penning pieces about blockchain and cryptocurrency. He started his venture into blogging in 2020, later focusing on the world of cryptocurrencies. His life's work is to introduce the concept of decentralization to people worldwide.

Stay on top of crypto news, get daily updates in your inbox

Related News

Cryptopolitan
Subscribe to CryptoPolitan