The post Here are Prominent Signs Financial Market is Preparing for XRP ETFs appeared on BitcoinEthereumNews.com.

After several months of anticipation, the XRP community is finally seeing signs that an XRP exchange-traded fund (ETF) could become a reality. Bitcoin and Ethereum opened the door to crypto ETFs this year, building on applications filed back in 2023. With their ultimate approvals, the XRP Army speculated that XRP deserves to be the next crypto asset ETF in the financial space, given its prominence and clear regulatory status. This prospect is quickly becoming a reality due to recent market developments. In a Wednesday post on X, researcher Anderson highlighted several points supporting the view that the market is gearing up for XRP ETFs. Signs the Market Is Preparing for XRP ETFs First, Anderson noted that Grayscale’s decision to open an XRP Trust in September is a strategic move that could lead to an XRP ETF. Notably, Grayscale is the leading crypto asset manager. The crypto community eagerly awaits Grayscale’s official XRP ETF move, given its prominence in the asset management business. Meanwhile, other major crypto asset managers have made official moves to list an XRP ETF. Bitwise opened the floor on October 2 by submitting its application with the U.S. SEC. Financial commentators like Eric Balchunas of Bloomberg have remarked that Bitwise’s bold decision to seek an XRP ETF could be seen as a bet on Donald Trump’s emergence as the next U.S. president, as they view its approval as unlikely under the current SEC chairman. However, asset manager Canary Capital has joined Bitwise in the race for an XRP ETF. It submitted an application with the SEC on October 8. Notably, this marks Canary’s first foray into digital assets, led by Steven McClurg, who cited strong investor demand for alternatives to Bitcoin and Ethereum as a driving force behind the initiative. Discussion of XRP ETF to Feature at…

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Filed under: News - @ October 10, 2024 10:20 am