- November 19, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Ripple News: Will XRP ETFs Debut After Gensler’s Resignation? Pro-XRP Lawyer Gives Timeline appeared first on Coinpedia Fintech News
A few weeks ago, Ripple Labs CEO Brad Garlinghouse made headlines by stating that it’s “inevitable” that the company’s XRP cryptocurrency will eventually be offered through an exchange-traded fund (ETF). This bold claim gained further attention after the U.S. presidential election, which saw pro-crypto candidate Donald Trump win, sparking more speculation about the future of XRP and its potential ETF launch.
However, according to pro-XRP lawyer Jeremy Hogan, there are still significant hurdles ahead. In Bitwise’s October filing with the SEC for an XRP ETF, the company pointed out that the biggest risk to buyers of the ETF is… the SEC itself. This suggests that regulatory uncertainty remains a key challenge, with the SEC’s stance on XRP still unresolved. Hogan believes this section of the filing may need to be amended soon to reflect evolving circumstances.
After the approval of the Ethereum ETF, the price of Ether soared. Many believe an XRP ETF could follow, and some say it’s inevitable. We might not know the exact timeline, but other crypto ETFs, including one for XRP, seem likely to happen.
According to Hogan, the typical timeline for an ETF approval is around 6 to 12 months, which means we could be looking at a potential XRP ETF launch sometime next summer—assuming everything goes smoothly with ongoing legal appeals and regulatory developments.
Conclusion:
The ongoing legal battle with the SEC has made it difficult for Ripple to operate at its full potential. If we look ahead a year, though, and if we see positive developments in the legal space, XRP could really take off. Once the SEC lawsuit is behind them, we could witness a huge surge in XRP’s use and value. Some speculators even think that big changes like SEC Chairman Gary Gensler stepping down could help reveal it’s true potential.
