Notable crypto neighborhood figures are more and more satisfied that XRP would be the subsequent crypto asset to safe an ETF itemizing, with some issuing rapid timelines to observe.
This confidence follows the most recent announcement from Grayscale, one of the vital distinguished crypto asset managers, launching an XRP Belief.
On Thursday, Grayscale Investments launched the Grayscale XRP Belief, offering traders with a brand new option to faucet into XRP’s potential. The belief affords publicity to XRP, and by investing in it, eligible traders can acquire entry to a protocol with vital real-world functions, in keeping with Rayhaneh Sharif-Askary, Grayscale’s Head of Product.
Remarkably, the Grayscale XRP Belief opened for day by day subscriptions for accredited particular person and institutional traders after yesterday’s announcement. It’ll function equally to Grayscale’s different single-asset funding trusts, focusing solely on the XRP token.
This announcement excited the XRP Military, who imagine it’s a step towards launching an XRP ETF.
Skilled’s Timeline for XRP ETF Launch
Reacting to Grayscale’s newest transfer, Blair Campbell, a extensively adopted crypto advertising specialist, remarked that following the announcement, the market might see the primary U.S.-listed XRP ETF in 4 to eight months.
Campbell expressed pleasure, noting that she had all the time believed, after the Bitcoin and Ethereum spot ETFs went reside, XRP can be subsequent—earlier than Solana.
In June, distinguished asset supervisor VanEck submitted an utility to record a Solana ETF with the SEC, the primary of its sort for Solana within the U.S. Nonetheless, this utility has hit a roadblock.
Final month, the U.S. SEC discontinued the approval course of for the Solana ETF attributable to issues over whether or not Solana (SOL) must be categorised as a safety. Specialists within the ETF market argue that there’s no probability of seeing a SOL ETF this yr and even subsequent.
In the meantime, an analogous sentiment is prolonged to XRP, although notable figures within the XRP neighborhood imagine an XRP ETF might floor this yr or subsequent. This Grayscale’s newest motion has solely added to that confidence.
It’s price noting that Grayscale beforehand provided an XRP Belief earlier than the SEC lawsuit in late 2020. The agency liquidated the product amid authorized challenges and is now bringing it again to life.
