The Potential for an XRP ETF
As the approval of the first-ever spot Bitcoin ETF is anticipated, talk of an XRP ETF filing is growing. Despite legal battles with the SEC, there have been hints of a shift in regulatory attitudes toward XRP.
Fidelity’s Registration of a Ripple ETP
Rumors about an XRP ETF have intensified after a screenshot revealed an XRP Exchange-Traded Product (ETP) named Amun Ripple AXRP ETP registered with Fidelity. This development has led to speculation about a potential XRP ETF application.
Regulatory Landscape for Ripple
In July 2023, a summary judgment by Judge Analisa Torres ruled that the sale of XRP tokens to retail buyers does not qualify as securities assets, marking a positive turn in Ripple’s regulatory landscape.
XRP ETF Potential
Market analysts are closely monitoring potential XRP ETF filings following the expected approval of the Bitcoin ETF. Speculation suggests that an XRP ETF filing might occur as early as April 2024. XRP Whale, a prominent figure in the XRP community, has hinted at a potential XRP ETF application and launch later this year.
XRP Price Performance
With the XRP price relatively subdued compared to Bitcoin’s recent highs, the cryptocurrency is currently experiencing a 1.6% decrease, trading at $0.559 with a notable surge in trading volume over the last 24 hours contributing to an overall market cap of $30 billion.
Hot Take
Potential for XRP ETF Amid Regulatory Shift
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