Ripple: BlackRock Might Join XRP ETFs Race
Investors eagerly awaiting the release of an XRP ETF, is starting to become apparent. The timeline for its approval by the SEC, the US financial regulator, is becoming clearer, which could help investors position themselves optimally.
To date, the SEC has received at least fifteen applications for XRP Spot ETF from Grayscale, Franklin Templeton, WisdomTree, and Bitwise.
Blackrock is anticipated to submit an application for an XRP-traded fund (ETF) in the wake of Ripple’s ongoing legal battle as stated by Nate Geraci, ETF Shop president
The conclusion of the Securities and Exchange Commission (SEC). Geraci added that BlackRock might submit its proposal for the Solana ETF at any moment. He also observes the financial behemoth dabbling in cryptocurrency index exchange-traded funds (ETFs).
The ongoing legal dispute between Ripple Labs and the Securities and Exchange Commission (SEC) and the potential approval of exchange-traded funds (ETFs) with an XRP focus are two significant developments involving Ripple’s XRP token that are getting closer to resolution.
Ripple Labs has been the target of a lawsuit from the SEC, accusing the company of offering unregistered securities by selling XRP tokens.
This legal dispute has been the primary focus of the cryptocurrency industry because it has implications for the classification and control of digital assets in the United States.
The Ripple-based token market value could see a turnaround following a favorable court ruling. Analysts believe these events could trigger a significant influx of institutional capital, increasing demand and influencing the price of XRP.
If ETFs are allowed and institutional demand reaches the levels seen after the launch of Bitcoin futures contracts in early 2024, XRP could reach a market capitalization of $ 200 billion.
There have been rumors that the SEC is withdrawing its appeal in the Ripple case; internal debates seem to center on XRP being classified as a commodity rather than a security.
A classification like this would enable XRP to be associated with commodities like gold or oil, possibly circumventing some of the regulations that are currently in place for securities.
Ripple now addresses the SEC’s accusations in its brief and possibly sets the stage for a decision.
The cryptocurrency investment community is closely monitoring the future of ETFs that focus on XRP in addition to the court proceedings. Nine businesses, including well-known asset managers Franklin Templeton, Bitwise, ProShares, and Grayscale, have submitted applications to the SEC to develop XRP ETFs by March 12, 2025.
These financial products aim to give institutional and individual investors controlled exposure to XRP, increasing its availability and potentially market liquidity.
Grayscale flings to convert its current XRP Trust into an ETF-conscious reaction to the changing regulatory landscape and investor demand. The SEC’s position in this area is cautious but generally positive.
The current U.S. government’s overall pro-cryptocurrency stance and the agency’s acceptance of the applications have raised hopes for quick approval, even though no licenses have been issued yet.
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