The XRP community is buzzing with excitement as Grayscale, the world’s largest crypto asset manager, recently showcased XRP alongside Bitcoin and Ethereum in a CNBC broadcast.
This seemingly small gesture has ignited speculation about the possibility of a Grayscale XRP exchange-traded fund (ETF) in the future.
Tell me with a straight face that Grayscale isn’t about to reboot their #XRP ETF funds..
😉 https://t.co/CdzxAGo1Vr pic.twitter.com/TqvnSu1WCV
— Chad Steingraber (@ChadSteingraber) December 28, 2023
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A Glimmer of Hope for XRP Supporters
XRP has faced its fair share of challenges, particularly with the Ripple-SEC lawsuit, which alleged it was an unregistered security. This led Grayscale to remove XRP from its Digital Large Cap fund and dissolve its standalone XRP Trust.
However, the recent CNBC ad featuring XRP alongside prominent cryptocurrencies, with Grayscale as the sponsor, has given hope to the XRP community. Many see this as a potential sign of renewed interest in XRP from Grayscale.
This has also reignited speculation regarding a Grayscale XRP ETF as the crypto asset manager keeps making efforts to convert its Grayscale Bitcoin Trust (GBTC) and Ethereum Trust into spot ETFs. Additionally, the recent legal clarity surrounding XRP in the U.S. creates a favorable environment for the potential launch of an XRP ETF.
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Reasons for Optimism
Regulatory Clarity: The SEC lawsuit has narrowed its focus on Ripple Labs rather than XRP itself, providing a clearer regulatory landscape for XRP and potentially paving the way for an ETF application and approval.
Grayscale’s ETF Pursuit: Grayscale’s active pursuit of converting its existing trusts into ETFs demonstrates its commitment to expanding its product offerings and potentially reintegrating XRP.
Strong Market Demand: The XRP community remains resilient and vocal, and a Grayscale XRP ETF would likely attract significant investor interest.
Uncertain Future, but a Glimpse of Hope
While the possibility of a Grayscale XRP ETF is tantalizing, it’s important to remember that the future remains uncertain. The regulatory landscape is still evolving, and the SEC’s stance on XRP ETFs is not yet clear.
Nonetheless, the recent developments offer a glimmer of hope for the XRP community, and time will reveal whether Grayscale will take the leap and bring an XRP ETF to fruition.
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