In a twist of events that could make even the most stoic of us raise an eyebrow, the US Securities and Exchange Commission (SEC) has unexpectedly acknowledged an application for an XRP Exchange-Traded Fund (ETF) from 21Shares. Ah, the drama of it all!
Naturally, this revelation has set the crypto world ablaze with speculation. Some experts, with a flair for the dramatic, have even suggested that an approved ETF could catapult the price of XRP to dizzying heights, perhaps even reaching the giddy sum of $59 per token. Oh, the excitement!
SEC’s Latest Rendezvous with XRP ETF
The SEC’s acknowledgment of 21Shares’ filing is but the tip of the iceberg. This development joins a growing list of XRP ETF applications pending approval. The firm submitted its application in early November, keeping the company of other asset managers who are also seeking the SEC’s blessing for an XRP ETF.
In a stunning turn of events, the SEC also acknowledged an XRP ETF filing by Grayscale. Nate Geraci, an ETF analyst, couldn’t contain his excitement, calling it an “enormous message” for the crypto investment market. Oh, the suspense is killing us!
WisdomTree and Bitwise have also thrown their hats into the ring, applying for spot XRP ETFs. The Cboe BZX Exchange has even submitted regulatory filings to list shares of these products. Market analysts are on tenterhooks, eagerly awaiting the SEC’s next move.
Ripple CEO Brad Garlinghouse, ever the optimist, had previously declared that an XRP ETF approval in the US was “inevitable,” despite ongoing legal challenges. Well, we’ll just have to wait and see, won’t we?
Stay Tuned for More Juicy Details!
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2025-02-14 23:00