There is growing excitement in the XRP community as rumors of a long-awaited XRP exchange-traded fund (ETF) gain momentum.
Crypto influencer Ben Armstrong (Bitboy), privy to whispers within the industry, recently shared information about a potential application in April, aligning with the anticipated conclusion of the XRP lawsuit.
This prospect excited XRP enthusiasts, who have longed for an ETF, quantifying the massive gain it could bring to the XRP market, as many believe XRP’s unique legal standing could pave the way.
Read Also: Bitboy and Experts Debate If XRP ETF Could Help Send XRP Price To $25
The court ruling from July last year declaring XRP a non-security has instilled confidence in the community about XRP’s regulatory standing. Armstrong echoes this sentiment, emphasizing that XRP’s legal clarity strengthens its case for an ETF.
Financial Giants Get Involved
Adding to the buzz, financial behemoth Blackrock, rumored to be spearheading a Bitcoin ETF, is now linked to a potential XRP ETF. This news, coupled with Grayscale’s recent re-inclusion of XRP in its Digital Large Cap Fund after a two-year hiatus, has ignited a firestorm of speculation.
However, despite the increasing optimism for an XRP ETF, XRP has not joined the ongoing rally involving most other cryptocurrencies. The digital asset is currently trading at $0.5651, down 0.97% in 24 hours.
Nevertheless, the prospect of an ETF, particularly with Blackrock’s rumored involvement, holds immense potential to propel XRP’s price upwards. According to Armstrong, traditional investors are interested in XRP. He asked the XRP army to understand that it would take time for investors to realize that XRP is no longer a security.
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When the time comes, everyone who stayed away because of regulatory uncertainty will enter the market. Armstrong believes that the process will be completed in April with the ETF application. He mentioned BlackRock as the most likely candidate to apply.
Read Also: Fake BlackRock XRP ETF Filing Takes a New Turn
Blackrock’s sheer size and influence could bring much-needed legitimacy and liquidity to the XRP market, attracting institutional investors who have previously been hesitant due to regulatory concerns.
Bitboy also highlighted the potential gains and surges that could come if the crypto market goes into the Bitcoin halving with big news like the XRP ETF application.
Of course, the road to an XRP ETF has its obstacles. Regulatory hurdles could still arise if the SEC appeals the decision after the lawsuit. However, the recent developments, coupled with XRP’s strong fundamentals and growing adoption point to a bright future.
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