BitcoinCryptocurrency EducationEthereumLINKNewsXRP

XRP ETF Likely After Bitcoin Approval, Valkyrie’s Investment Chief Says

1 Mins read

Contents

In a recent Bloomberg interview, Valkyrie Funds’ co-founder and chief investment officer, Steve McClurg, hinted at the possibility of the approval of Ethereum or XRP exchange-traded funds (ETFs) following the anticipated launch of Bitcoin spot ETFs. 

“So, it wouldn’t surprise me if we saw Ripple or Ethereum spot ETFs out there,” he said. 

This prediction comes in the wake of the U.S. Securities and Exchange Commission (SEC) likely giving the green light for Valkyrie’s Bitcoin ETF, with trading expected to commence as early as Thursday.

However, McClurg is not certain whether Valkyrie is going to launch such products in the future. ” I really don’t know if we’re going to do that or not,” he added.  

More spot ETFs on the horizon? 

McClurg’s optimism about Ethereum and Ripple ETFs is backed by recent market developments.

He pointed out that Grayscale’s addition of XRP to one of their publicly traded trusts shows a growing interest in diversified cryptocurrency investment products.

Valkyrie has not confirmed plans to pursue these specific ETFs, McClurg believes that the market is ripe for such offerings. 

He emphasized that these potential ETFs could be more retail-focused, providing easier access to a broader range of investors who may not be deeply embedded in the cryptocurrency market.

“Anything can happen”

However, McClurg cautioned that the SEC’s decision-making process is unpredictable, and the agency’s approval is never guaranteed. 

Valkyrie is prepared to launch its Bitcoin ETF, but McClurg remains cautiously optimistic, acknowledging that “anything can happen” in the regulatory landscape.

“We’re prepared for an effective date on Wednesday and trading on Thursday, but we know that anything can happen. So I’m about 95% sure that we will be trading on Thursday,” he said. 

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.