In order to establish a spot exchange-traded fund (ETF) for XRP, developed by blockchain firm Ripple, futures ETFs must first be approved.
Ripple on its website a business development manager Published a job advertisement for. According to the details shared in the advertisement, the person to be hired “managing cryptocurrency-related ETF initiatives” Waiting.
With this announcement, Ripple has a plan for XRP. establishing an exchange traded fund The question arose as to whether it worked or not.
According to FOX Business reporter Eleanor Terrett, first of all An investor in XRP futures contracts The ETF needs to be approved. “If a futures ETF is established for XRP, then it would be a step in the right direction to one day establish a spot.” Terrett wrote:
“The approval of spot ETFs for BTC was partly due to the SEC’s decision to monitor the Bitcoin futures market on the CME. fraud and manipulation “It’s because he decided that surveillance would be sufficient.”