HomeNewsCrypto Game Changer: Valkyrie CIO Teases Ripple XRP ETFs in the Works

Crypto Game Changer: Valkyrie CIO Teases Ripple XRP ETFs in the Works

- Advertisement -
  • The SEC’s approval of Bitcoin ETFs may open doors for Ethereum and XRP ETF applications, though none have been filed for XRP yet.
  • Valkyrie Investments CIO anticipates a rise in filings for Ethereum and possibly XRP ETFs following the SEC’s recent decisions.

A New Dawn for Crypto ETFs?

The cryptocurrency investment world is abuzz with anticipation following the Securities and Exchange Commission’s (SEC) approval of the first spot Bitcoin ETFs in the United States. This landmark decision could signal a shift towards embracing other major digital assets, particularly Ethereum and XRP. While Ethereum has several spot ETF applications under SEC review, XRP’s situation differs markedly, with no such applications filed yet.

Valkyrie’s Vision: Predicting the ETF Future for XRP

Steven McClurg, the Chief Investment Officer at Valkyrie Investments, one of the applicants for a spot Bitcoin ETF, shared his insights on the future of crypto ETFs. In a Bloomberg Crypto interview, McClurg discussed the prospects of a spot XRP ETF. Noting recent developments, including Grayscale’s addition of Ripple to its trust, he suggested that filings for Ethereum and potentially XRP ETFs could soon emerge.

Industry Buzz and Speculations

The crypto community has shown considerable interest in the prospect of an XRP ETF. Buzz around this idea was further fueled by Grayscale Investments reintegrating XRP into its Grayscale Digital Large Cap (GDLC) Fund. However, it’s crucial to clarify misconceptions, such as Fidelity Investments launching an XRP Exchange-Traded Product (ETP), which turned out to be inaccurate.

Navigating Regulatory Hurdles

Despite the optimistic outlook from some corners of the industry, others like Bloomberg ETF analyst James Seyffart remain cautious. Seyffart expressed skepticism about the likelihood of an XRP ETF gaining SEC approval in the near future. He emphasized the need for XRP futures to be listed on a regulated market like the CME before considering a spot XRP ETF, a milestone that currently seems distant.

XRP’s Market Position Amidst ETF Speculations

As discussions and speculations continue, XRP’s market performance remains a point of interest. At the time of writing, XRP trades at $0.56346, with its future in the ETF market hanging in the balance. The crypto industry keenly watches as Ripple navigates the complex regulatory landscape, hoping for positive developments that could further legitimize and expand investment opportunities in the digital asset space.

Connect with Collin Brown on X (Twitter) for valuable market insights, frequent updates, and a touch of humor!

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Marcel Knobloch
Marcel Knobloch
Marcel is the managing partner of ETHNews and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628