The resignation of SEC Chair Gary Gensler has created a favorable environment for ETF issuers to pursue new opportunities. With Gensler stepping down, companies are expected to take more decisive initiatives in applying for altcoin ETFs. Donald Trump’s intention to appoint a chair with a pro-crypto stance has further fueled optimism among cryptocurrency enthusiasts.
What’s Next for XRP Coin ETF Applications?
Following the resignation announcement, Wisdom Tree has submitted an application for an XRP Coin ETF, which has already driven the price of XRP Coin above $1.46. Speculation abounds that the anticipated change in leadership at the SEC could help resolve ongoing legal disputes involving Ripple, potentially lifting XRP Coin’s value significantly.
Will Major Firms Like BlackRock Join the Rush?
The involvement of major asset management firms such as BlackRock and Fidelity in seeking XRP Coin ETF applications could lead to substantial price surges. Their participation could introduce XRP Coin to a broader range of investors, potentially attracting inflows in the tens of millions, reminiscent of the substantial investments observed in Bitcoin.
Fox Business reporter Terret disclosed that Wisdom Tree has officially registered for an XRP ETF in Delaware, confirming this legal step. With over $100 billion in assets under management, Wisdom Tree’s move is seen as a significant endorsement for the asset class.
- Gensler’s resignation is expected to create a more favorable regulatory environment.
- Wisdom Tree’s ETF application has already positively impacted XRP Coin’s price.
- Potential ETF applications from BlackRock and Fidelity could attract significant capital inflows.
As the cryptocurrency landscape shifts with new leadership and opportunities, market participants are keenly watching how these developments will influence the broader adoption of altcoin ETFs.
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.
