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Title: Wall Street’s ‘Greed’ Could Push XRP ETF Approval, John Deaton
The recent conclusion of Ripple’s long-standing legal battle with the U.S. Securities and Exchange Commission (SEC) has sparked growing interest in a potential XRP exchange-traded fund (ETF). This increased demand could potentially prompt major financial institutions like BlackRock to reconsider their stance on an XRP ETF.
Lawyer John Deaton, known for his support of Ripple, believes that Wall Street’s “greed” will ultimately push asset managers like BlackRock to seize this lucrative opportunity. Deaton emphasizes the attractiveness of a new and profitable investment option tied to XRP, which is currently one of the most liquid altcoins in the market.
The odds of an XRP ETF approval have been on the rise, with some markets predicting a 66% chance of acceptance. However, it is essential for investors to recognize that regulatory hurdles still persist, making it uncertain whether BlackRock or other major firms will take the plunge into this burgeoning asset class.
BlackRock’s current stance on not launching an XRP ETF could shift as competitors begin testing the market and witnessing the demand for such products. As a result, it is possible that the financial giant may reevaluate its decision to avoid offering an XRP ETF in the near future.
The possibility of BlackRock reconsidering its stance adds fuel to Deaton’s assertion that Wall Street’s greed could drive the approval process forward. In his opinion, major firms would not miss out on a lucrative opportunity like this and instead, choose to capitalize on it.
It remains uncertain if Deaton’s predictions come true or if regulatory hurdles will continue to hinder progress. As Ripple’s legal battle concludes, investors are now left with more questions than answers regarding the potential for an XRP ETF. Will BlackRock and other major asset managers seize this chance?
Source: coincentral.com
