Ripple Should First Launch XRP Futures ETF
The regulatory landscape surrounding XRP is explored by Fox Business journalist Eleanor Terrett, who highlights the importance of launching an XRP futures ETF before considering a spot ETF. Terrett draws parallels with the approval process for spot Bitcoin ETFs and emphasizes the need for a futures market to provide surveillance against fraud and manipulation. If XRP successfully secures approval for a futures ETF, it could pave the way for a spot ETF in the future, indicating positive developments for the cryptocurrency in terms of regulation.
Legal Hurdles For Ripple
The ongoing legal battle between the US SEC and Ripple over the institutional sales of XRP is currently under scrutiny. The final court hearing is scheduled for April 2024, and the outcome of this lawsuit will likely impact the possibility of a spot XRP ETF. Analysts argue that the chances are slim unless the SEC grants XRP a non-security status. Despite these legal challenges, investor interest in XRP continues to grow, with Santiment reporting that there are now over 5 million unique wallets holding XRP coins.
Hot Take: Ripple’s Path to an XRP ETF
Ripple faces regulatory hurdles and legal battles on its journey towards launching an XRP ETF. While the possibility of a spot XRP ETF remains uncertain due to ongoing litigation, journalist Eleanor Terrett suggests that Ripple should first focus on launching an XRP futures ETF. This incremental step could pave the way for regulatory approval and surveillance against fraud and manipulation. Although it may take time, increased regulatory clarity could eventually lead to an operational spot XRP ETF in 2025. Despite legal challenges, investor interest in XRP continues to rise, as reflected in the growing number of unique wallets holding the cryptocurrency.
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