Ripple Must Launch XRP Futures ETF Before Spot ETF Rollout – Says Fox Reporter
The post Ripple Must Launch XRP Futures ETF Before Spot ETF Rollout – Says Fox Reporter appeared first on Coinpedia Fintech News
Ripple is seemingly gearing up for the prospect of launching an exchange-traded fund for its native cryptocurrency, XRP. Recent developments in the crypto space suggest that the regulatory landscape is evolving, providing new opportunities for digital assets.
The SEC’s Stance on ETFs
FOX reporter Eleanor Terrett believes launching a futures ETF would precede any XRP spot ETF approval. This coincides with the SEC’s approach to the Bitcoin spot ETF, where a CME Bitcoin futures market was deemed sufficient for monitoring fraud and manipulation.
Terrett emphasized this point in her tweet, “If $XRP gets a futures ETF, then it’s a step in the right direction to one day getting a spot.”
Ripple’s Strategic Hiring for ETF Initiatives
Terret’s insight follows Good Morning Crypto‘s tweet, unveiling Ripple’s search for a Senior Manager for Business Development in New York.
Adding fuel to the speculation, the job description explicitly mentions driving “cryptocurrency-related ETF initiatives.” This raises intriguing questions and fuels optimism about Ripple’s plans to launch XRP ETF.
The tweet questioned, “Could this mean an $XRP ETF is closer than we had imagined?”
The language used in the job posting suggests that Ripple might be actively preparing to apply for an XRP ETF, aligning with the evolving regulatory environment.
Collecting and analyzing these pieces of information shows that Ripple is strategically positioning itself in the ETF space. The company seems to align its business development efforts with the potential regulatory green light for crypto ETFs.
Ripple’s strategic hiring and the evolving regulatory landscape through its tireless efforts in the Ripple vs. SEC lawsuit suggest the journey toward crypto ETFs is gaining momentum.
Filed under: Bitcoin - @ January 27, 2024 5:00 am