Is a Spot XRP ETF Possible: Here Are Potential Launch Dates and Market Expectations!

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All 11 spot BTC ETF products were recently approved by the US SEC. Following the approval, industry commentators turned their attention to Ethereum (ETH) and XRP He turned to ETFs backed by other cryptocurrencies such as

Notably, a spot Ethereum ETF is already in the works, as leading asset managers BlackRock, Ark Invest, VanEck, and Fidelity have applied for the product. The SEC is expected to make its first final decision on Ark Invest and 21Shares’ application in May.

While speculation about a possible spot ETH ETF has increased, some experts have also focused on the spot XRP ETF. These commentators cite XRP’s unique legal clarity as a strong basis for the possible launch of the investment product.

Lark Davis, the Bitcoin (BTC) investor behind The Crypto Lark brand, recently predicted that the approval of a spot in the XRP ETF could be one of the biggest events of 2024. According to him, this development is due to XRP gaining a non-security identity. possible.

Moreover, in a video, crypto influencer Ben Armstrong, formerly part of the BitBoy Crypto brand, also claimed that an XRP ETF could be in the works. According to that, Ethereum ETFFollowing , the next crypto asset to receive an ETF is XRP, not Cardano or Solana.

Koinfinans.com As we reported, citing anonymous sources, Armstrong suggested launching the product after Ethereum receives an approved ETF product. He also pointed out a possible Ripple IPO, emphasizing that all these developments could happen in the 1st quarter of 2024, before Bitcoin halving in April.

Is a Spot XRP ETF Possible?

BlackRock’s iShares BTC ETFFollowing the approval of (IBIT) along with ten other spot Bitcoin ETF products, BlackRock CEO Larry Fink held an interview with Fox Business.

During the interview, Fox Business’ Charles Gasparino asked about the possibility of the asset manager launching a spot XRP ETF.

“I can’t talk about it,” Fink stated, showing that he didn’t want to talk about the subject. This response sparked mixed reactions, with some suggesting that this product is likely in the works, but it’s not yet time for it to be made public.

However, others speculated that this response may indicate that the thought of an XRP ETF from BlackRock had not even been considered. Another optimist believes that Fink’s response indicates that BlackRock may consider this in the future.

Whatever the case, given that XRP is the only asset with regulatory clarity in the US, no asset managers have filed or expressed interest in a spot XRP ETF. Some experts point to the ongoing SEC lawsuit against Ripple as the factor that stopped the product from being filed.

Last week, Valkyrie’s Chief Investment Officer (CIO) Steve McClurg hinted at the possibility of a spot XRP ETF now that Bitcoin has secured its own product.

Source : The Crypto Basic


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