Crypto Influencer Speculates on Fidelity Launching Ripple ETF
Crypto influencer Jack The Rippler believes that Fidelity, a prominent investment firm, may soon launch a spot Ripple (XRP) Exchange-Traded Fund (ETF). He shared a screenshot of the AMUN Ripple AXRP ETF on Fidelity’s trading platform. Another influencer, Crypto_Barbie, also confirmed the existence of the ETF’s trading page.
Ripple ETF News Could Impact Price
According to XRP Whale, Fidelity might apply for the exchange-traded product in April and could potentially receive approval by the end of 2024. These predictions come at a time when the crypto market is focused on the potential approval of a spot Bitcoin ETF. If approved, it could pave the way for ETFs tracking other cryptocurrencies like XRP.
XRP ETF Applications Could Reopen XRP vs SEC
An approval of Bitcoin ETFs could add $1.5 trillion to the crypto market cap and result in billions of dollars in inflows. This would also benefit altcoins like Solana, Bitcoin, XRP, and Ethereum, which have already seen significant market cap growth. The approval of ETFs will make crypto more accessible and attract more funds to the market. It will also provide valuable insights for companies interested in filing ETFs for other crypto assets.
Hot Take: Potential Implications of an XRP ETF
An XRP ETF could have significant implications for the asset’s price and the overall crypto industry. However, it may raise concerns about potential price manipulation and pose challenges for the SEC after their previous defeat in a court case against Ripple Labs. The court ruled that XRP was only considered a security when used to raise funds from institutional investors. The launch of an XRP ETF could reignite the debate and raise questions about its regulatory status.
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