• Ripple was seemingly looking to boost crypto-related ETF initiatives.
• Analysts have aired their apprehensions about such a possibility.

With the spot Bitcoin [BTC] ETFs up and running, and Ethereum [ETH] ETFs in the pipeline, a certain section of the crypto market has turned its attention to the possibility of even a spot Ripple [XRP] ETF.

Is the hype justified?

A large part of the expectations stemmed from Ripple’s legal victory against the U.S. Securities and Exchange Commission (SEC), which removed doubts about the “security” status of XRP.

However, a Fox Business journalist, who has been closely following the developments the developments around spot crypto ETFs, provided a reality check to these speculations.

Eleanor Terrett said that in order to launch an XRP spot ETF, a futures ETF would first need to be in place.

She reminded everyone that Bitcoin spot ETFs got a go-ahead partially due to SEC considering the CME Bitcoin futures market good enough to provide monitoring for fraud and manipulation.

“If XRP gets a futures ETF then it’s a step in the right direction to one day getting a spot,” Terrett opined. 

Her comments came in response to a job description provided by Ripple, wherein the company was scouting for a resource who could “drive cryptocurrency-related ETF initiatives.”

Wishful thinking?

The discussions around XRP ETFs have been building for some time now. In fact, around mid-November, a Go to Source to See Full Article
Author: Aniket Verma

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