ETF Expert Says Ripple Closing This Chapter Clears The Way For XRP ETF, BlackRock To Join The Race?
Main Idea
Ripple's decision to drop its cross-appeal against the SEC may pave the way for an XRP ETF, with potential involvement from BlackRock, as the lawsuit's resolution removes a key regulatory hurdle.
Key Points
1. Ripple CEO Brad Garlinghouse announced the firm's decision to drop its cross-appeal against the SEC, signaling a potential end to the XRP lawsuit.
2. Nate Geraci, president of the ETF store, suggested that the lawsuit's resolution clears the path for a spot XRP ETF and raised the possibility of BlackRock joining the ETF race.
3. Bloomberg analyst James Seyffart previously noted that an XRP ETF was unlikely until the SEC-Ripple lawsuit was settled, implying the recent development could accelerate approval.
4. BlackRock, which already offers Bitcoin and Ethereum ETFs, has not yet filed for an XRP ETF but may do so soon, becoming the eighth issuer to apply.
5. Bloomberg analysts predict a 95% chance the SEC will approve spot crypto ETFs this year, with XRP's price currently trading at around $2.19, up in the last 24 hours.
Description
Nate Geraci, the president of the ETF store, has weighed in on what Ripple’s decision to drop its cross appeal could mean for XRP ETFs . He also raised the possibility of BlackRock joining the ETF race now that the lawsuit is ending. What Ripple’s Decision To Drop Cross Appeal Means For XRP ETFs In an X post , Nate Geraci stated that a closed chapter on the XRP lawsuit clears the way for a spot XRP ETF . His statement suggested that the SEC could now move to approve the applications for issuers ...
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