The XRP community erupted in excitement this week after Jack Steingraber, a prominent figure, shared the news that the Hashdex Nasdaq Crypto Index ETF (HDEX.BH) has added XRP to its holdings.
This news, also shared by JackTheRippler (@RippleXrpie), reignited discussions about the possibility of a future XRP ETF and its potential impact on the cryptocurrency’s price.
Hashdex Files for U.S. Crypto ETF
On July 24, Hashdex, a global asset manager, officially filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for the Hashdex Nasdaq Crypto Index U.S. ETF. This ETF aims to offer investors exposure to the cryptocurrency market by tracking the Nasdaq Crypto Index (NCI).
The NCI focuses on large-capitalization crypto assets. Hashdex has confirmed that the initial launch of the U.S. ETF will feature Bitcoin (BTC) and Ethereum (ETH). This aligns with HDEX.BH, the Bermuda Stock Exchange ETF by Hashdex, which also tracks the NCI and holds these two leading cryptocurrencies. Intriguingly, XRP is included in the list of assets in the Hashdex Crypto Index Fund.
XRP Community’s Desire for an XRP ETF
The XRP community has long advocated for the inclusion of XRP in regulated investment vehicles like ETFs. This would potentially increase accessibility and institutional adoption of XRP, contributing to price stability and growth.
Ripple CEO Brad Garlinghouse has previously expressed his belief that XRP ETFs are a natural progression for the cryptocurrency and anticipated their emergence by 2025.
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Impact of a Potential XRP ETF on Price
The potential launch of an XRP ETF could have a significant impact on the price of XRP. Increased investor interest and accessibility through such an ETF could drive demand and push the price upwards.
Additionally, the end of the ongoing lawsuit between Ripple and the SEC could remove the uncertainty surrounding XRP and unlock further growth potential.
The possibility of future inclusion of XRP in the NCI or the development of an independent XRP ETF would significantly benefit XRP, particularly if regulatory clarity around XRP’s status is cemented with the end of the lawsuit.
Other experts have also shared predictions about the potential XRP ETF. The coming months will be crucial for both the resolution of the SEC lawsuit and the emergence of XRP ETFs. These developments and ongoing advancements within the Ripple ecosystem could significantly impact XRP’s market performance in the long term.
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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