Nate Geraci, a notable ETF specialist, forecasts a potential approval for a spot-based XRP ETF in the United States within this calendar year. His prediction has ignited considerable excitement among those involved in the cryptocurrency sector. Ripple‘s President, Monica Long, echoed this sentiment, suggesting XRP could be the next to achieve ETF approval, following in the footsteps of Bitcoin and Ethereum.
XRP’s Path to ETF Approval
Ripple’s XRP has already seen numerous applications for a spot ETF from prominent firms including WisdomTree, Bitwise, Canary Capital, and 21Shares, all submitted to the U.S. Securities and Exchange Commission (SEC).
Is XRP Facing Tough Competition?
Despite the buzz surrounding XRP, large financial players like BlackRock appear disinterested in launching spot ETFs for cryptocurrencies other than Bitcoin. Nevertheless, optimism for XRP’s SEC approval is mounting, fueled by Ripple’s CEO Brad Garlinghouse’s assertions about its near inevitability.
– Nate Geraci sees an imminent approval for XRP’s spot ETF.
– Ripple’s President supports XRP’s ETF prospects.
– Major firms are actively applying for spot ETFs.
– BlackRock’s lack of interest contrasts with rising optimism.
– Competition from other altcoins creates uncertainty.
The possibility of a crypto-friendly leadership shift could influence the SEC’s stance on Ripple’s ongoing legal battles. However, the clarity around XRP’s ETF approval remains elusive due to the competitive landscape in the altcoin market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
