Valkyrie Funds Chief Investment Officer Steven McClurg wouldn’t be surprised if we began seeing not just more Ethereum ETF applications, but Ripple XRP ETFs on the market. Speaking to Bloomberg Tuesday, the CIO says that given recent progress in the crypto and Spot ETF field, he thinks that these filings are a possibility.
I even think we’re going to see something for Ripple, given the recent progress,” he said. “You notice that Grayscale just added Ripple to one of their trusts as publicly traded, so it wouldn’t surprise me if we saw Ripple or Ethereum Spot ETFs out there.”
The SEC is expected to decide this week on the future of Spot Bitcoin ETFs, with deadlines looming for pending applications. Multiple firms have filed Spot Ethereum ETFs, but a Ripple XRP ETF hasn’t been heard of. An XRP ETF would further open the floodgates for crypto implementation into everyday banking, as other leading cryptocurrencies may be inspired to follow suit.
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Currently, no Ripple XRP ETF applications are pending, but Grayscale will likely not be the last to add XRP to one of its publicly traded trusts. At press time, Ripple XRP is trading at $0.5738. It is down 1% in the last 24 hours. However, a filing for a Ripple XRP Spot ETF would likely make the price for XRP explode.