The historic approval of spot bitcoin ETFs by the U.S. SEC could pave the way for several crypto exchange-traded products (ETPs), including an XRP ETF.
In a Tuesday Bloomberg interview, Valkyrie co-founder and Chief Investment Officer (CIO) Steven McClurg weighed in on other crypto ETFs coming into the market.
According to McClurg, spot Ethereum and XRP ETFs wouldn’t be surprising given the breakthrough of bitcoin ETFs. To buttress his optimism about XRP ETF, Valkyrie co-founder noted that Grayscale recently reinstated XRP in its Digital Large Cap Fund.
In his words: “You notice that Grayscale just added XRP to one of their trusts publicly traded. So it wouldn’t surprise me if we saw Ripple [XRP] or Ethereum spot ETFs out there.”
For the record, these comments came before the unauthorized spot bitcoin ETF approval tweet. However, XRP ETFs became a hot topic after the U.S. Securities and Exchange Commission officially approved 11 spot bitcoin ETF applications. Valkyrie and Grayscale are among the licensed issuers.
Top Experts Say XRP ETF is Coming Next
Besides McClurg, several proponents of the sixth-largest cryptocurrency by market cap believe XRP ETFs are likely. On Wednesday, the renowned crypto YouTuber Zach Rector dropped a hot take on X (Twitter) after the bitcoin development.
According to him, XRP ETF is inevitable. Moreover, he added that the hopeful development won’t make the XRP Ledger (XRPL) native token a security. Rector’s tweet read thus: “XRP ETF is coming whether we like it or not. And no, it does not make XRP a security.” Recall that XRP was declared a non-security in July 2023 by a U.S. federal judge.
Similarly, Anodos Finance co-founder and author Panos Mekras shared the same thoughts in a separate tweet. “XRP ETF is only a matter of time,” he wrote. However, these are mere speculations that could either play out or not.
For the uninitiated, XRP ETF is an investment product that would give investors direct exposure to the price of XRP without them owning the asset.
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