In a universe not so far away, Grayscale has decided to throw its hat into the crypto ring by filing for an XRP ETF with the NYSE. This audacious move has sent ripples (pun intended) through the crypto community, igniting a frenzy of speculation that could make even the most seasoned fortune teller raise an eyebrow. With a plethora of asset managers now vying for a piece of Ripple’s native crypto pie, the spotlight has shifted to BlackRock, the behemoth of asset management, as the next potential contender. And just to spice things up, FOX journalist Eleanor Terrett has hinted at more filings on the horizon, leaving investors in a state of delightful suspense. š§
Grayscale XRP ETF Filing Sparks Market Optimism
Grayscale has officially submitted a 19b-4 form through the NYSE to convert its existing XRP Trust into an exchange-traded fund (ETF). If the cosmic forces align and the ETF is approved, it will be listed and traded on the New York Stock Exchange, where dreams and dollars collide. The Trust, which emerged from the ashes of Judge Analisa Torresā ruling in the Ripple vs. SEC saga, currently boasts a modest $16 million in assets under management (AUM). Not too shabby for a digital currency that once had more ups and downs than a hyperactive pogo stick.
Meanwhile, Grayscale is not just sitting on its laurels; itās been busy applying for other ETFs like a kid in a candy store. Litecoin ETF? Check. Solana ETF? Check. Grayscale Bitcoin Miners ETF? You bet! It seems the firm is on a mission to expand its ETF offerings faster than you can say “intergalactic financial revolution,” raising expectations for more filings from other big players. š
Is BlackRock Next To File For XRP ETF?
As if the plot couldnāt thicken any further, Eleanor Terrett has dropped a tantalizing hint on X, suggesting that more XRP ETF applications could be lurking just around the corner. She cryptically advised:
āKeep an eye out for possibly more filing activity by issuers with $XRP ETF applications next week.ā
In a delightful twist of fate, when asked about BlackRockās potential entry into this ETF extravaganza, Terrett responded with a vague yet intriguing comment about āissuers with XRP ETF applications.ā While she didnāt exactly roll out the red carpet for BlackRock, her words have certainly set the rumor mill spinning faster than a hamster on a wheel. Given BlackRockās illustrious history of leading ETF innovations, particularly with its successful Spot Bitcoin ETF launch last year, many are convinced that the firm is plotting its own XRP ETF launch like a master strategist in a cosmic chess game.
Whatās Next For Rippleās Native Crypto?
XRP price today is currently playing hard to get, trading at $3.08, while its trading volume has taken a nosedive of 31% to $4.7 billion. It seems investors are adopting a cautious approach, perhaps waiting for the US Fed to make its next move in the grand game of interest rates. Meanwhile, traders are tiptoeing around the impending US PCE inflation data, which is scheduled to drop later today like a surprise party no one asked for.
However, with optimism soaring over the potential XRP ETF launch in the US, speculations about a price rally are reaching astronomical heights. For context, eight asset managers have now officially filed for an XRP ETF, including the likes of Bitwise, CoinShares, Canary Capital, 21 Shares, and WisdomTree. Itās like a cosmic dance party, and everyone wants to join in!
Furthermore, if BlackRock decides to join the fray, it would add a hefty dose of credibility to XRPās standing in the investment universe. However, the mere thought of XRP being added to the US Strategic Reserve has already ignited a friendly (read: fiery) debate between Bitcoin maxis and XRP enthusiasts. Who knew digital currencies could spark such passionate discussions? š„
Meanwhile, experts remain cautiously optimistic about XRPās future trajectory, given the latest ETF filings and other market developments. In a stroke of prophetic genius, a top expert recently predicted a potential XRP price rally to $5, provided it breaks a crucial support level ahead. So, buckle up, dear reader, for the crypto rollercoaster is just getting started! š¢
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2025-01-31 14:23