- Nate Geraci thinks BlackRock and Fidelity will ultimately come into the XRP ETF space, viewing approval as a matter of time.
- Ripple was able to negotiate its SEC fine down from $2 billion to $50 million, and the injunction against the firm is likely to be vacated.
- XRP is still one of the largest cryptocurrencies, and it is a good choice for institutional investors seeking to add more crypto products.
ETF expert Nate Geraci thinks that Fidelity and BlackRock will sooner or later come into the XRP ETF space. He finds approval of an XRP ETF a matter of time, given that Ripple’s extended legal tussle with the SEC now seems to be coming to an end.
Ripple’s general counsel Stuart Alderoty recently confirmed that the company successfully negotiated its fine down from the SEC’s opening ask of $2 billion to $50 million, drastically decreasing the financial bite. The injunction against Ripple is also likely to be lifted.
Sights on XRP ETFs
Though BlackRock said it does not expect to roll out additional altcoin ETFs in the near future, Geraci believes the company won’t sit on its hands as others roll them out.
Fidelity has already submitted a proposal for a Solana ETF, and Franklin Templeton, with more than $1.5 billion in assets, is in the running with an XRP ETF. Geraci doesn’t believe big financial institutions will turn a blind eye to XRP with its enormous size of the market.
XRP is still among the largest cryptocurrencies other than stablecoins. With a market capitalization of $144 billion, XRP is larger than some of the biggest companies such as Shopify, Citigroup, and Boeing.
This dominant position makes it a good choice for institutional investors who want to increase their crypto providings.
Crypto ETFs
The growing demand for XRP ETFs is a testament to a broader shift in the financial industry’s approach to digital assets. With the SEC recently greenlighting Bitcoin and Ethereum ETFs, the majority of analysts expect other cryptocurrencies to follow suit.
If the heavy hitters like BlackRock and Fidelity enter the XRP ETF space, it would further legitimize XRP as an institutional asset.
With better regulatory clarity, even more investment companies might be looking into crypto ETF products. The prospects for an XRP ETF now appear better than ever before, and only time will tell which leading financial institutions will lead the way in offering one.XRP ETF Approval Seen as Inevitable as Major Firms Show Interest.
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