With intensifying expectations of a Bitcoin ETF approval, Yassin Mobarak, the founder of Dizer Capital and a well-known figure in the crypto community, believes that XRP is an ETF contender that shines particularly bright.
In his recent post on X, Mobarak urged Wall Street institutions to boldly explore the untapped potential of an XRP Spot ETF, highlighting compelling reasons why it could be a strategic game-changer.
If I were a Wall Street institutional fund and saw that the first mover advantage for #BTC and #ETH Spot ETF approval is gone, I would want to start thinking boldly and seriously consider filing an application for an #XRP Spot ETF. Why?
1. There's a significant pent-up demand…
— Yassin Mobarak 🪝 (@Dizer_YM) December 17, 2023
Read Also: XRP ETF Could Send Shockwaves Through Crypto Industry. Here’s why
Mobarak’s argument hinges on four key points:
Pent-up Demand: XRP boasts a passionate community, which was recently commended by Bitboy for its unwavering support. The digital asset also enjoys interest and adoption within the payments and cross-border settlement domains.
Mobarak also highlighted the recent surge XRP enjoyed after a fake BlackRock ETF filing from Delaware. He wrote, “The price jump was almost immediate and robust,” showing the potential of a real ETF filing, and highlighting the desire for regulated access among institutional players.
An Open Field: According to Mobarak, no major institution has formally proposed an XRP ETF. Being the first mover could offer significant advantages in terms of attracting early adopters and capitalizing on potential market gaps.
Legal Precedent: Mobarak pointed out that the recent court ruling in favor of Ripple over the SEC’s security classification of XRP provides a strong legal framework for an ETF application. He contends that well-funded institutions should be prepared to challenge the SEC in court if necessary, given the clear use case and the robust ecosystem surrounding XRP.
Compelling Risk-Reward: The potential reward of an approved XRP ETF dwarfs the risks associated with a potential SEC denial. Mobarak believes that in a bullish market like 2024, such an approval could trigger a cascading effect, propelling XRP alongside the broader crypto sector.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Bitboy and Experts Debate If XRP ETF Could Help Send XRP Price To $25
The SEC’s cautious stance towards crypto assets is well documented, and an XRP ETF application would surely draw significant scrutiny. However, the arguments for such a product are compelling. Institutional demand is tangible, the legal landscape is shifting, and the potential payoff could be immense.
Wall Street’s next move remains uncertain, but Mobarak’s confidence in XRP shows that the future of crypto might not reside solely in Bitcoin and Ethereum. XRP, with its unique strengths and growing network, could surprise many in the coming months.
Whether or not an ETF materializes, Mobarak’s belief highlights the evolving landscape of digital assets and the increasing role institutional players are poised to play in shaping its future.
Meanwhile, Ripple executives recently gave 7 predictions for the crypto industry in 2024.
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