- After the SEC’s ruling on Ripple, the crypto community has been buzzing about a possible XRP-based ETF.
- Silence from BlackRock CEO Larry Fink and Ripple CEO Brad Garlinghous has led to speculations that talks of a possible XRP ETF are underway, though conducted behind doors.
Cryptosphere buzzes with speculation about a possible XRP exchange-traded fund. The speculations are fueled by a number of recent events including the U.S. Securities and Exchange Commission’s approval of Bitcoin Exchange-Traded Funds and the conclusion of the XRP vs. SEC litigation.
The Backtracking of 2023 financial Blackrock has submitted a proposal for an ETF that tracks Bitcoin. This was an important step to making crypto a future investment. SEC’s decision to approve Blackrock as well 10 other Bitcoin ETFs was a major milestone in the market for digital assets. It was a tough battle to approve the Bitcoin ETFs, as the SEC commissioners voted 3-2. SEC chair Gary Gensler, reportedly, voted for the ETFs.
It was only natural that speculations arose about other currencies following suit after the Spot Bitcoin ETF approval. Ether ETFs have filled this void. However, crypto enthusiasts’ appetite for diversification continues to be insatiable. As the XRP – SEC court battle winds down, XRP as the first regulated crypto, It could be that next ETF Victim Spot
A post by renowned crypto influencer Anders on Twitter has been very strong. X platform, Blackrock could be a driving force behind the approval of an XRP exchange traded fund.
Recent statements by BlackRock CEO Larry Fink, and Ripple’s Brad Garlinghouse have only fueled the fire. When asked about the potential for an XRP-based ETF, both parties refused to make any comments. This response has led to speculation that there are discussions underway behind closed doors about a Spot XRP ETF.
Anders believes that a XRP ETF would not have been possible after the court battle. However, now Judge Torres’ final ruling has cleared the way. Fink’s and Garlinghouse’s silence could have been strategic. Gensler could have been ordered to silence Fink and Garlinghouse. “back off” This is a case that you cannot appeal. It has not been a case. echoed Stuart Alderoty said, “The SEC cannot appeal, if US government is to promote the adoption of crypto.”
Although no official announcement has been made yet, recent developments within the crypto industry including ETHETF’s approval suggest that Blackrock, and others, are interested in this market. financial The heavyweights are likely to make an announcement soon. The SEC’s willingness to accept both Bitcoin and Ether ETFs as well as the end of the Ripple case only increases the chances for an XRP-based ETF.
As of the date this article was written, XRP has been trading at $0.01 swapping hands With $0.5762, mark a 1.35% You can also find out more about the following: 11.57% surge In the past 24 hours, and in the previous week.
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Source: www.crypto-news-flash.com