XRP ETF: Is it Possible? Expert Weighs In

Von | 11. August 2023

• The SEC has been hesitant to approve spot Bitcoin exchange-traded funds for years.
• Ideas for ETH ETFs have also been floating around, and now XRP ETFs are being discussed as well.
• An asset management expert weighed in on the possibility of an XRP ETF getting approved.

Why Investors Want a Cryptocurrency ETF

The primary reason why cryptocurrency investors have been pushing for a spot Bitcoin ETF approved by the US SEC is that it will thoroughly legitimate Bitcoin as an investable asset. This would, in turn, open the door for many institutions that are looking for a safe way to invest in BTC without having to necessarily worry about its safekeeping. Let’s face it – storing large amounts of BTC isn’t for anyone, and it can be particularly risky.

BlackRock Filing For Bitcoin ETF

With BlackRock now filing for a Bitcoin ETF, chances for approval, according to many – have improved. This is mainly because of the fact that it’s the largest asset manager in the world, and it has a tremendously successful track record in getting its ETF applications approved.

Gemini Listing XRP

Recently Gemini followed Coinbase’s lead by listing XRP which sparked discussion over if this could eventually lead to an XRP exchange-traded fund (ETF).

Expert Opinion OnXRP ETF

An asset management expert – James Seyffart – weighed in on the possibility of an XRP ETF getting approved. His comments came in response to the recent listing of XRP on Gemini stating: “Don’t think there’s enough to launch an XRP ETF with this [Gemini listing].”

Conclusion

It looks like we still have some time before we can expect any kind of decision from the SEC regarding a possible approval or denial of any type of cryptocurrency-based exchange-traded fund.