Ripple XRP ETFs: A Possibility, Reveals Valkyrie CIO

• Ethereum and Ripple XRP ETF Applications Expected to Rise
• The Outlook for Crypto ETFs
• The SEC and Crypto ETFs
• The Potential Impact of a Ripple XRP ETF
• Current State of Ripple XRP ETFs

Ethereum and Ripple XRP ETF Applications Expected to Rise

The Outlook for Crypto ETFs

Steven McClurg, Chief Investment Officer at Valkyrie Funds, anticipates a surge in applications for Ethereum$2,315 -2.42% ETFs, and potentially, Ripple XRP$0.620 -1.68% ETFs. In a recent interview with Bloomberg, McClurg shared his views on the evolving landscape of crypto and Spot ETFs. He believes that given the current progress in these fields, the filing of Ethereum and Ripple XRP ETFs might not be far off.

The SEC and Crypto ETFs

The U.S. Securities and Exchange Commission (SEC) is set to make a decision on the future of Spot Bitcoin$42,260 -0.64% ETFs this week. This major decision comes amidst looming deadlines for various pending applications. Numerous firms have filed for Spot Ethereum ETFs. However, no Ripple XRP ETFs have been registered yet.

The Potential Impact of a Ripple XRP ETF

An ETF for Ripple XRP could significantly expand the crypto's implementation in everyday banking. This could potentially inspire other leading cryptocurrencies to follow suit and broaden their reach through similar financial products.

Current State of Ripple XRP ETFs

As of now, there are no pending applications for Ripple XRP ETFs. However, with Grayscale recently adding XRP to one of its publicly traded trusts, it is expected that more firms might follow this lead. Ripple XRP was trading at $0.5738 at the time of reporting, marking a slight 1% drop over the past 24 hours. Nevertheless, the filing of a Ripple XRP Spot ETF could potentially spike a dramatic price surge for XRP.

Edited by Jonathan Stoker