XRP ETF can launch but after this - CryptoCrazeNews

XRP ETF can launch but after this

XRP ETF can launch but after this

XRP ETF can launch but after this

Following the approval of a spot Bitcoin ETF (Exchange Traded Fund) in the United States by the Securities and Exchange Commission (SEC), investors are now looking for more crypto-related ETFs. Recently, a crypto enthusiast found that Ripple (XRP) is on the lookout for a Senior Manager for Business Development in New York.

What he found will amaze you; by looking at the job description, it appears that Ripple (XRP) is working on ETF-related products. The job description suggests a focus on cryptocurrency-related ETFs, potentially hinting at progress or interest in launching an ETF tied to XRP. However, in the key responsibilities, they cited, “Drive cryptocurrency-related ETF initiatives with internal trading teams and relevant partners.”

However, to have Ripple’s XRP spot ETF, a futures ETF for XRP must likely come first. This was the same case with Bitcoin (BTC), where the SEC approved spot ETFs after determining that the CME Bitcoin futures market was sufficient for monitoring fraud and manipulation. If XRP gets a future ETF, it could be a positive step toward eventually having a spot ETF.

Impact of XRP ETF on Market 

All these upcoming developments in Ripple will cause a surge in the adoption rate and also the effect we’ll see on its native token. Currently, Ripple’s XRP is trading near $0.52, and in the last 24 hours, it experienced over 3.4% upside momentum. If we look at XRP over a longer period, in the last 30 days, XRP experienced over 14% downside momentum. If this XRP ETF anticipation is true, then in the coming days, we will witness a significant price surge in XRP, just like Bitcoin. 

Additionally, apart from Ripple XRP, ETF crypto enthusiasts are also making predictions that in the upcoming days, the SEC will approve a spot Ethereum ETF. This prediction comes after asset manager giant BlackRock showed interest in Ethereum

On January 12, 2024, CEO Larry Fink, during an interview with CNBC, made a statement “I see value in having an Ethereum ETF. These are just stepping stones towards tokenization, and I really do believe this is where we’re going to be going.”

Bloomberg’s ETF expert James Seyffart recently made a post on X for the Ethereum ETF and mentioned that Spot Ethereum ETF delays will continue to happen sporadically over the next few months. The next date that matters is May 23, 2024.

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