Spot XRP ETF to Be Approved This Year, According to Top Analyst

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According to one of the top ETF experts, Nate Geraci, there’s a strong possibility that an XRP ETF which trades on a spot basis could receive approval in the current year.

According to U.Today’s report, Ripple‘s president Monica Long suggested that XRP might be the next digital asset to secure an Exchange Traded Fund (ETF) approval from the Securities and Exchange Commission (SEC), after both Bitcoin and Ethereum.

As a researcher delving into the world of cryptocurrencies, I find myself intrigued by the multiple pending XRP Exchange-Traded Fund (ETF) applications. These applications have been submitted by notable entities such as WisdomTree, Bitwise, Canary Capital, and 21Shares, each eagerly waiting for approval to bring XRP ETFs into the mainstream financial market.

Previously, Brad Garlinghouse, CEO of Ripple, frequently asserted that the approval of this particular product was almost certain.

Yet, BlackRock has not yet shown interest in expanding its altcoin ETF offerings, even though its Bitcoin-backed product has seen remarkable success.

On top of that, Geraci also expects the agency to green-light multiple Solana-based ETFs.

On the other hand, Eric Balchunas of Bloomberg has expressed an opinion suggesting that Litecoin (LTC) or Hedera (HBAR) could potentially receive U.S. spot ETF listings prior to XRP. He highlighted that the token is still grappling with regulatory uncertainties due to Ripple’s ongoing legal dispute with the SEC.

Despite the anticipation that the SEC may dismiss the Ripple case due to the incoming administration’s supportive stance towards cryptocurrencies, there are those who suggest that the agency might not grant the industry an automatic get-out-of-jail-free card.

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2025-01-12 14:12