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ETF Expert Says Ripple Closing This Chapter Clears The Way For XRP ETF, BlackRock To Join The Race?
Nate Geraci, the president of the ETF store, has commented on the implications of Ripple’s decision to drop its cross-appeal in the ongoing lawsuit with the SEC. According to Geraci, this development clears the way for a spot XRP ETF.
Geraci explained that the Securities and Exchange Commission (SEC) is likely to approve applications from issuers seeking to offer an XRP ETF once the current lawsuit between Ripple and the SEC comes to an end.
The news comes as a surprise, especially considering the recent ruling against Ripple in federal court. In his statement, Geraci pointed out that now that the lawsuit is ending, there is nothing stopping the SEC from approving these funds.
In another crucial observation, Geraci highlighted the potential for BlackRock to join the XRP ETF race.
He stated that with the lawsuit behind them, it’s possible that BlackRock could now file for an XRP ETF. This would mark a significant step in the world of cryptocurrency.
As previously reported by Bitcoinist.com, Bloomberg analysts Seyffart and Blachunas predicted a 95% chance of SEC approval for these funds within this year.
This news comes at a time when Ripple is focusing on building the Internet of Value.
In the meantime, it is interesting to see how XRP reacts to these developments.
Source: bitcoinist.com
