The post Speculation Mounts as Analysts Foresee XRP ETF Filing Shortly After SEC’s Approval of Bitcoin ETF appeared first on Coinpedia Fintech News

The United States Securities and Exchange Commission’s recent approval of the first-ever spot Bitcoin ETF has stirred up speculation about the potential for similar developments in other digital assets. Could we be on the verge of witnessing an XRP ETF filing?

XRP ETF Filing in the Wings?

As anticipation builds for the imminent approval of the spot Bitcoin ETF by the SEC, rumours are circulating within the crypto community that an XRP ETF filing may not be far behind. Despite the ongoing legal battles between the SEC and Ripple, recent developments suggest a shift in the regulatory winds.

Notably, a screenshot shared by crypto influencer Jack The Rippler has surfaced, revealing an XRP Exchange-Traded Product (ETP) named Amun Ripple AXRP ETP registered with Fidelity. This development has sparked speculation about a potential XRP ETF application.

It’s worth noting that the regulatory landscape for Ripple has seen a positive turn following a summary judgment by Judge Analisa Torres in July 2023. The judge ruled that the sale of XRP tokens to retail buyers does not qualify as securities assets. 

This positive decision has given confidence to those applying for permission to launch XRP Exchange-Traded Funds (ETFs). Big names like Blackrock, Van Eck, Fidelity, Bitwise, and Valkyrie are among those feeling more confident about getting approval.

April 2024: A Potential Milestone?

With the approval of the Bitcoin ETF expected around January 10, market analysts are closely watching for potential XRP ETF filings. There are speculations from the XRP community suggesting an ETF filing might occur as early as April 2024.

While anticipation builds for the SEC’s decision on the Bitcoin ETF, XRP Whale, a prominent figure in the XRP community, has hinted at a potential XRP ETF application as early as April 2024. The speculation further suggests that the ETF could be launched before the end of the year. However, it’s important to note that these hints remain speculative, with no official communication from potential issuers.

XRP Price Performance 

In the midst of these developments, the XRP price has shown relatively subdued momentum compared to Bitcoin’s recent highs, where the flagship cryptocurrency briefly touched the $45,000 mark. 
Currently, XRP is experiencing a 1.6% decrease, trading at $0.559. Over the last 24 hours, there has been a notable surge in trading volume, soaring by 104%, contributing to an overall market cap of $30 billion.