- A Ripple job description mentioning “cryptocurrency-related ETF initiatives” has ignited talk of an XRP ETF.
- Eleanor Terrett has drawn parallels between Bitcoin ETFs and a potential XRP ETF.
- Despite the recent Bitcoin ETF approvals, the SEC’s rigorous review has made another crypto ETF far from guaranteed.
Could an exchange-traded fund (ETF) for Ripple’s XRP, the world’s sixth-largest cryptocurrency, be closer than we think? Recent developments have ignited speculation, with a tweet from Fox Business analyst Eleanor Terrett and a Ripple job posting fueling the fire.
Is an XRP ETF on the Horizon?
Terrett, known for her insights into the crypto space, sparked the conversation by commenting on a job posting by Ripple for a senior manager for business development in New York. Notably, the job description specifically mentions driving “cryptocurrency-related ETF initiatives.”
This detail, coupled with the timing following the SEC’s approval of 11 spot Bitcoin ETFs, led many to speculate on the possibility of an imminent XRP ETF. Adding to the intrigue, Terrett drew parallels between the potential XRP ETF and the recently approved Bitcoin ETFs.
She pointed out that the SEC’s approval for Bitcoin relied on the existence of a futures market, suggesting a similar path for XRP. “If XRP gets a futures ETF, then it’s a step in the right direction to one day getting a spot,” she tweeted.
Terrett’s comments resonated with industry observers, including Wu Blockchain, who tweeted, “The Ripple job posting involves promoting cryptocurrency-related ETF plans or hints that the company is preparing to apply for an ETF.”
XRP ETF Approval Far From Certain
While the job posting and Terrett’s speculation are not concrete proof of an upcoming XRP ETF, they have certainly fueled investors’ hopes. The crypto community eagerly watches developments, awaiting confirmation from Ripple or the SEC.
The SEC’s approval process for ETFs is complex and often lengthy. Even with the recent Bitcoin approvals, it’s far from guaranteed that an XRP ETF will be approved anytime soon.
However, the current buzz surrounding the possibility highlights the growing interest in regulated crypto investment options and the potential role that XRP could play in this evolving market.
On the Flipside
- Unlike Bitcoin, XRP lacks a well-established futures market, which is acknowledged as a potential roadblock.
- The SEC’s stance on XRP remains unclear due to the ongoing lawsuit with Ripple. Any positive ETF developments hinge on the lawsuit’s resolution.
Why This Matters
After the approval of the Bitcoin ETFs, the possibility of an XRP ETF is a hot topic, and developments in this space are sure to be closely watched by investors and enthusiasts alike.
If you’re interested in the legal battle surrounding XRP and its regulatory status, you can read more here:
XRP Taken Off Regulator Greenlist: Attorney Demands Answers
Curious about the challenges of launching a Bitcoin ETF? This article dives into the complexities involved:
BlackRock Expresses Concerns to SEC Regarding Bitcoin ETFs