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Title: Wall Street’s ‘Greed’ Could Push XRP ETF Approval, John Deaton
The ongoing debate surrounding the potential approval of a Ripple (XRP) exchange-traded fund (ETF) has been reignited following recent remarks from prominent lawyer and pro-Ripple advocate John Deaton. In his latest statement, Deaton suggests that Wall Street’s insatiable greed could ultimately be the driving force behind an XRP ETF.
Deaton believes that major financial institutions like BlackRock, which currently does not plan to launch an XRP ETF, may reconsider their stance in light of the growing interest in cryptocurrency. With Ripple’s recent legal victory over the U.S. Securities and Exchange Commission (SEC), the conditions are now ripe for Wall Street to seize this lucrative opportunity.
In a tweet, Deaton emphasized that Wall Street is “too greedy not to” approve an XRP ETF. He expressed confidence that institutional investors will be eager to capitalize on the growing demand for alternative cryptocurrency assets. As a result, Deaton suggests that Wall Street’s pursuit of profit could propel XRP ETF approval forward.
The recent conclusion of Ripple’s legal battle with the SEC has created a unique window of opportunity for firms like BlackRock to launch an XRP ETF. According to Deaton, this situation will likely prompt asset managers to reconsider their stance on XRP and other altcoins. As such, it is possible that we may witness a shift in perspective from large financial institutions.
Recent statements from Ripple’s legal battle have only fueled speculation surrounding the potential approval of an XRP ETF. The recent upswing in trading volumes on Upbit, which saw record-breaking $1.09 billion in trades last week, has further stoked the flames of excitement around the possibility of a BlackRock-backed XRP ETF.
While some market experts anticipate that any future XRP ETF would struggle to gain traction due to regulatory hurdles, Deaton’s comments have reignited hopes for an XRP ETF approval. The recent surge in interest and investment in cryptocurrency assets has led many financial institutions to re-evaluate their stance on these markets.
A significant factor in this context is the SEC’s current stance on cryptocurrency. With multiple crypto ETF proposals pending before the commission, including those for XRP and Solana, the window of opportunity for an XRP ETF may be limited but still plausible.
Source: coincentral.com
