- Wall Street is increasingly looking to launch and invest in a Spot XRP ETF with the risk/reward ratio now compelling.
- The only argument against such a launch would be the ongoing case with the SEC that seeks to label the token as a security.
The crypto community has shared optimism about the possible launch of a spot XRP ETF. The discussion was sparked by Yassin Mobarak, founder of Dizercapital, who called on the Wall Street institutional fund to take advantage and be the first to launch the spot XRP ETF.
As the launch of the first spot Bitcoin ETF looks all but imminent, the crypto community anticipates the launch of other crypto ETFs. This is already evident with the filing of a couple of Ether spot ETFs. Surprisingly, no financial institution is yet to file for an XRP ETF. Investors and some experts are beginning to question the lack of an XRP spot ETF. The absence is especially concerning given that XRP is the only altcoin that enjoys legal clarity from the courts.
Read More: Expert Questions the Absence of a Spot ETF Application for XRP Despite Legal Clarity
One top researcher says that this crypto product can open the floodgates as institutional investors would be able to seamlessly make an entry into the XRP world. However, the ongoing legal case continues to cast a shadow on the future of Ripple and its issued token, XRP.
XRP ETF to Offer Financial Edge
Yassin Mobarak has highlighted all the benefits a Wall Street institutional fund would get by launching the first XRP ETF. The commentator points to four key compelling reasons; Institutional demand – this was demonstrated when a fake post appeared at a Delaware site regarding BlackRock filing for an XRP spot ETF. At the time, the token experienced a massive rally before BlackRock refuted the claim.
With no other financial institution taking action, it is clear in the business world that being the first to launch a product has advantages. In addition, the risk/reward ratio is compelling. The risk is low and with an XRP spot ETF getting approved with all the bullish momentum in 2024, XRP could reach the moon.
If I were a Wall Street institutional fund and saw that the first mover advantage for #BTC and #ETH Spot ETF approval is gone, I would want to start thinking boldly and seriously consider filing an application for an #XRP Spot ETF. Why?
1. There’s a significant pent-up demand…
— Yassin Mobarak 🪝 (@Dizer_YM) December 17, 2023
The SEC will first have to approve a spot Bitcoin ETF before any other possible crypto ETF approval. In addition, there is still the ongoing SEC vs. Ripple case. Experts speculate that Ripple is likely to win, paving the way for other developments such as an ETF and Ripple going public. Interestingly, if the courts rule that XRP is not a security, it will only be the second token after Bitcoin, which holds legal status as a non-security.
At the time of press, XRP is trading at $0.63 after a 3% surge in the last 24 hours. With volume up by nearly 50%, this indicates renewed interest in the token.
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