A new chapter in the world of crypto ETFs is about to begin.
Bitwise Invest, a well-known crypto asset manager, has just filed the first application for an XRP spot ETF in Delaware. This is a huge deal, especially considering the ongoing legal battle between Ripple and the SEC.
The Timing is Everything
This application comes at a crucial time for Ripple. The company is waiting for the SEC’s decision on whether to appeal a recent court ruling that could clear up some of the confusion surrounding XRP. If the SEC doesn’t appeal, it could make XRP a more attractive investment option.
The Road to Approval
Of course, getting an ETF approved isn’t easy. Just like the Bitcoin and Ethereum ETFs that were approved earlier this year, Bitwise’s application will face a lot of scrutiny from the SEC. It could take months, even until next year, before we know if it’s approved.
Ripple Effect on the Crypto Market
This move could be a game-changer for the crypto market. It might encourage other financial giants like BlackRock to file their own ETF applications. We could even see ETFs for other cryptocurrencies like Solana in the future.
What’s Next for XRP?
Right now, the price of XRP hasn’t been affected by this news. But if the ETF gets approved, it could have a significant impact on the price as more institutional investors jump on board.
This is definitely a story to watch closely. It could be a major turning point for the future of XRP and the entire crypto market.
