Could XRP ETF Approval Ignite a Cryptocurrency Market Surge?
Speculation about an XRP ETF approval has intensified after Bitwise updated its filing, raising hopes for a broader cryptocurrency market surge.
Despite Ripple’s ongoing legal battles with the SEC, interest in the investment vehicle remains high.
An XRP ETF approval could signal a more favorable regulatory environment for cryptocurrencies in the U.S. Investor anxiety has increased over the SEC’s strict regulations, but a shift in approach may come after the upcoming Presidential election, especially if Donald Trump removes SEC Chair Gary Gensler. This could lead to a rally similar to that sparked by the recent U.S. Spot Bitcoin ETF approval.
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Bitwise’s updated XRP ETF application, which includes changes to trust structure and share creation, has led to a rise in XRP’s price. The ETF would enable trading of XRP-backed shares, renewing optimism about Ripple’s potential approval.
Additionally, Canary Capital has filed for a Ripple ETF, and Grayscale is seeking to convert its SOL, XRP, and AVAX trusts into ETFs. Recent comments from ETF Store president Nate Geraci further enhance expectations for a favorable outcome for the Ripple ETF.