XRP and ADA ETF Filings Predicted by Top Analyst

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As a seasoned crypto investor with a knack for spotting trends and a penchant for taking calculated risks, I find the recent developments surrounding cryptocurrency ETF filings quite intriguing. Nate Geraci’s prediction of multiple filings this week, including altcoins like XRP, Solana (SOL), and Cardano (ADA), is music to my ears.

This week in the United States, it is anticipated by Nate Geraci, a co-founder at The ETF Institute, that multiple applications for cryptocurrency ETFs will be submitted by the issuers.

It is anticipated that these Exchange Traded Funds (ETFs) will likely be founded upon digital currencies like Ripple‘s XRP, Solana (SOL), and Cardano (ADA).

There is no “downside” to getting aggressive for ETF issuers, according to Geraci. 

According to U.Today, it is anticipated that Gary Gensler, Chairman of the U.S. Securities and Exchane Commission, may step down soon. Dan Gallagher, legal advisor at Robinhood, is being strongly considered as a potential successor for the position at the SEC following Gensler’s departure.

Under Gensler’s leadership, the SEC endorsed multiple Bitcoin ETF proposals. Despite frequent criticism from the cryptocurrency community, Gensler cast the deciding vote. Commissioners Jaime Lizárraga and Caroline Crenshaw were in favor of rejecting Bitcoin ETFs, but Gensler ultimately aligned with commissioners Mark Uyeda and Hester Peirce, who are Republicans.

In the month of May, Gensler surprisingly gave approval for some Exchange-Traded Funds (ETFs) based on spot Ethereum. These ETFs became available for trading starting in July.

According to U.Today’s report, multiple ETF applications have been submitted for less common cryptocurrencies. For example, VanEck paved the way by filing for a Solana ETF in July. Additionally, several entities have proposed launching a spot-traded XRP ETF.

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2024-11-11 10:27