Bitboy Pinpoints A Sign That Shows XRP ETF Is Around the Corner

The crypto market is about to enter a new era, and there is mounting anticipation surrounding major developments like a potential XRP Exchange Traded Fund (ETF).

Recent developments have sparked increased speculation about XRP’s traditional investment prospects, driven by key market indicators and regulatory developments.

Grayscale’s XRP Trust, launched in September 2024, has emerged as a significant point of interest for market observers. The trust has demonstrated remarkable performance, with its share price experiencing a substantial surge of over 300%. Initially priced at $10.85, the trust has climbed to $47.48, catching the attention of prominent market commentators and investors.

Crypto influencer Ben Armstrong, a.k.a Bitboy, highlighted this performance as a promising signal for a potential XRP ETF. The dramatic price appreciation of the Grayscale trust suggests growing institutional interest and potential market readiness for a more accessible investment vehicle for XRP.

Is An XRP ETF Coming?

The U.S. Securities and Exchange Commission’s (SEC) historical stance toward XRP has been a significant hurdle for XRP ETFs. The SEC filed a lawsuit against Ripple and its executives in December 2020, and both parties have been embroiled in this legal battle since.

Although the court ruled in July 2023 that XRP is not a security, the SEC has not budged on its stance and appealed the ruling after the final verdict in August. However, the crypto market is as relentless as the SEC.

Ripple has spent over $150 million fighting the lawsuit, and multiple asset management firms have submitted applications for spot XRP ETFs, indicating substantial institutional interest.

Considering the current landscape and the impressive performance of the Grayscale XRP Trust, Armstrong is confident that an XRP ETF is coming.

When Will We See XRP ETFs?

According to regulatory timelines, the SEC typically requires 240 days to review ETF applications. With the most recent XRP ETF applications submitted in November 2024, potential approval could extend to July 2025 under optimal circumstances.

Nate Geraci, president of the ETF Store has also argued that the timeline could be extended, as XRP ETF approval would require an established Commodity Futures Trading Commission (CFTC) regulated futures market.

The SEC has also revealed that it will not approve Solana ETFs under the current administration. This might extend to other altcoins. However, a new administration will come in on January 20, and this pause will likely be lifted.

While the timeline for an XRP ETF is uncertain, the asset is one of the most popular among investors and institutions, and this pressure could expedite the approval process.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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