Valkyrie CIO Believes XRP ETFs Could Be the Next Big Thing
Following the recent approval of Spot Bitcoin ETFs by the SEC, the focus of crypto investors has shifted to the possibility of XRP ETFs. Steve McClurg, Chief Investment Officer (CIO) for Valkyrie, has expressed his support for this idea. In an interview with Bloomberg, McClurg stated that altcoins are likely to follow the same path as Bitcoin and Ethereum in terms of ETF approval.
Ethereum ETFs Expected, XRP ETFs a Possibility
McClurg predicts that after Ethereum, Ripple’s XRP could be the next cryptocurrency to receive approval for an ETF. He mentioned that it wouldn’t surprise him if Ripple or Ethereum spot ETFs become available in the future.
Uncertainty Surrounding Valkyrie’s Involvement
While McClurg showed optimism about the potential for an XRP ETF, he clarified that Valkyrie has not shown any interest in the altcoin so far. He emphasized that the crypto market is unpredictable, and it’s difficult to anticipate which assets managers will focus on next.
Hot Take: XRP’s Price Potential
While an XRP spot ETF could accelerate its growth towards a price as high as $100 in the future, it is unlikely to happen within the next few years. Nonetheless, gaining approval for an XRP ETF would undoubtedly contribute to its long-term success.
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