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ETF Expert Says Ripple Closing This Chapter Clears The Way For XRP ETF, BlackRock To Join The Race?
The ongoing saga between Ripple and the SEC has finally reached a turning point. In a significant development, Ripple CEO Brad Garlinghouse announced that his company is withdrawing its cross-appeal against the regulatory body, effectively bringing an end to the lawsuit.
Nate Geraci, President of ETF Store, has now weighed in on what this decision means for XRP ETFs and beyond. In a recent post, Geraci made some intriguing claims about how Ripple’s decision could have far-reaching implications for the cryptocurrency market as well.
In his statement, Geraci emphasized that the closure of this chapter sets the stage for a spot XRP ETF. His suggestion is that once the lawsuit ends, the SEC will be free to approve applications from issuers offering such funds.
Geraci’s comments have sparked some excitement in the crypto community, especially given the prospect of more ETFs joining the fray. In particular, speculation is now rife that BlackRock may be poised to join the race, having yet to file for an XRP ETF despite being one of the largest asset managers globally.
It has been previously noted by Bloomberg analysts James Seyffart and Eric Blachunas that a 95% chance exists for the SEC to approve these funds in the near future.
Source: bitcoinist.com
