BlackRock is expected to file for an XRP Exchange-Traded Fund soon, after the resolution of Ripple’s latest legal dispute with the U.S. SEC.
You can read more about it here:
- BlackRock is expected to file for an iShares XRP exchange-traded fund (ETF) following Ripple’s settlement with the SEC.
- Grayscale Bitwise 21Shares among other firms is seeking to launch a XRP ETF.
- Analysts estimate that an ETF for XRP will be approved 95% of the time, and a launch is expected to take place in the second quarter.
Nate Geraci, the former ETF Store President suggested in a post to X on 8 August that BlackRock You may have waited for clarification on the law before submitting your iShares XRP application (XRPETF application
“I think BlackRock was waiting to see this before filing for iShares XRP ETF,” he said, referring the joint filing that was recently made in the U.S. Court of Appeals Second Circuit. dissolve the Ripple-SEC case.
Geraci, while admitting that he may be wrong at times, said there was no reason why the world’s biggest asset manager should limit its cryptocurrency ETF line-up to Bitcoin alone (BTCEthereum (ETH).
BlackRock BTC and ETH Funds, IBIT, and ETHA have seen strong performance since their launch. becoming This ETF is one of its best performers. This track record lends credence to the notion that the asset management firm could be looking at more crypto funds. However, it is still speculation.
This latest dissolution officially closes the Ripple v. SEC legal battle and ends the long-running dispute over whether XRP was a security. Although the court ruled 2023 that XRP does not qualify as a security on secondary markets, this case remained active due to the civil penalties still pending.
Following the official conclusion of the lawsuit, there is renewed speculation on potential XRP-based ETFs.
After BTC and ETH, will there be an XRP ETF?
Seven asset managers have been identified, which includes GrayscaleCanary Capital and Bitwise have filed Launching an XRP-based ETF with the SEC. The SEC has approved the launch of an XRP ETF.
The SEC recently delayed The industry has high expectations of approval. Bloomberg analysts James Seyffart & Eric Balchunas’ have pegged The approval odds are 95%. This means that the regulatory green light and any subsequent launch will most likely occur in the second quarter of this year.
Polymarket is a betting site for bettors see an 88% chance An XRP ETF launch before the year’s end is possible. In the past 24 hours the odds have increased by 16%, probably due to the recent legal settlement.
The trading volume of XRP has increased 197% in the past day to $11.9 Billion. The price is now trading at $3.31. This marks a significant recovery. several days of underperformanceThe token is gaining momentum, causing it to rise in value.
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Source: crypto.news
