Fox Reporter Says Ripple Must Launch XRP Futures ETF Prior to Spot ETF Release
Ripple Appears to be Preparing for XRP ETF Launch
Ripple is reportedly getting ready to launch an exchange-traded fund (ETF) for its native cryptocurrency, XRP. Recent developments in the cryptocurrency industry indicate that the regulatory landscape is changing, opening up new opportunities for digital assets.
According to FOX reporter Eleanor Terrett, the launch of a futures ETF would come before the approval of an XRP spot ETF. This aligns with the approach taken by the Securities and Exchange Commission (SEC) with the Bitcoin spot ETF, where the existence of a CME Bitcoin futures market was considered sufficient to monitor potential fraud and manipulation.
In a tweet, Terrett emphasized this point, stating, “If $XRP gets a futures ETF, then it’s a step in the right direction to one day getting a spot.”
Furthermore, Ripple’s recent hiring activities suggest a strategic move towards ETF initiatives. Good Morning Crypto’s tweet revealed that Ripple is searching for a Senior Manager for Business Development in New York, specifically mentioning driving “cryptocurrency-related ETF initiatives” in the job description. This has sparked speculation and optimism about Ripple’s plans to launch an XRP ETF.
The language used in the job posting indicates that Ripple is actively preparing to apply for an XRP ETF, aligning with the changing regulatory environment.
By collecting and analyzing these pieces of information, it becomes clear that Ripple is strategically positioning itself in the ETF space. The company is aligning its business development efforts with the potential regulatory approval for crypto ETFs.
Ripple’s strategic hiring and the ongoing legal battle with the SEC further suggest that the journey towards crypto ETFs is gaining momentum.
Tags: Ripple (XRP)