As the SEC gears up for deliberations on various Bitcoin ETF proposals in early 2024, renowned crypto analyst WrathofKahneman, a vocal advocate for XRP, has shared insights into the potential emergence of an XRP exchange-traded fund (ETF). Expressing skepticism, the influencer noted that the realization of an XRP ETF may be hindered until a pivotal development transpires.
Rise of Crypto ETFs
Highlighting the transformative impact of crypto ETFs, WrathofKahneman emphasized the anticipated surge in institutional investment within the crypto realm. He cautioned that this influx might usher in heightened market volatility, citing potential arbitrage opportunities between the ETF and underlying crypto assets.
Ongoing Ripple Legal Battle
The SEC filed a lawsuit against Ripple in October 2021, alleging the unregistered sale of XRP as securities. WrathofKahneman stressed that until the unresolved legal matter sees closure, the prospect of an XRP spot ETF approval remains uncertain. With the case’s prolonged duration, the fate of an XRP ETF approval hinges on its resolution.
Prior speculation from a Bloomberg Analyst hinted at XRP futures listing on the Chicago Mercantile Exchange (CME) as a potential precursor for an XRP ETF. However, until such a development materializes, WrathofKahneman’s assessment retains validity.
Debating Crypto ETFs
The discussion surrounding crypto ETFs remains divided. While some experts champion these as stabilizing forces, offering regulated investment avenues, others foresee increased market volatility due to potential arbitrage and institutional inflows.
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