BitcoinEthereumNewsXRP

Grayscale’s XRP Move Sparks Hope, Will It Turn Bullish for the Coin?

1 Mins read

As Bitcoin exchange-traded funds (ETFs) received regulatory approval in the US, one ETF provider sees doors opening for additional digital asset offerings. Valkyrie Investments CEO Steven McClurg recently shared positive outlooks for both Ethereum and XRP, landing SEC-sanctioned ETFs in the wake of a long-awaited Bitcoin fund green light.

McClurg contends that with Bitcoin potentially establishing a viable path forward, filings tracking other top crypto assets could soon follow. Valkyrie itself aims to be part of those future waves, tailoring products to match growing institutional investment demand.

Grayscale adds XRP to crypto fund

In assessing XRP’s chances, McClurg pointed to recent progress around Ripple’s embattled native token. Grayscale’s surprising move last week to re-add XRP to its Digital Large Cap fund signals thawing sentiment toward the asset tied up in an SEC lawsuit.

McClurg believes this shift, along with advancing legal clarity and functionality for XRP, could incentivize ETF issuers to craft XRP investment vehicles. As for Valkyrie, he didn’t rule out getting involved under the right conditions.

Source: Grayscale

Grayscale could launch a dedicated XRP Trust

The context around Grayscale’s change of stance is informative. After delisting XRP from its fund in early 2021, observers believe last week’s shock re-addition implies eventual plans for a standalone XRP investment trust.

Grayscale enjoyed massive success with its Bitcoin Trust product. If Grayscale seeks to replicate even a fraction of that phenomenon with a new XRP Trust, the creation of an SEC-approved XRP ETF likely won’t be far behind.

Of course, uncertainty still dominates the landscape for additional crypto ETFs. McClurg clarifies that Valkyrie sees beyond Bitcoin, with ambitions to satisfy investor appetites for products providing exposure to Ethereum, XRP, and other digital assets.

If the floodgates ever open, expect the ETF issuer landgrab across cryptocurrencies to be as intense as the ongoing competition to secure the first SEC Bitcoin ETF approval.

Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.