US to get its first XRP-based ETF, launching on NYSE Arca

Quick Summary:

Likelihood of an approved spot XRP ETF still high: AnalystBloomberg ETF analyst Eric Balchunas said it was “very odd” to see a new asset’s first ETF come in leveraged form — however, he added that the odds of a spot XRP ETF being approved remain “pretty high.”Source: Eric BalchunasSeveral spot XRP ETF applications from the likes of Grayscale, Bitwise, Franklin Templeton, Canary Capital and 21Shares are being reviewed by the Securities and Exchange Commission.

Related: XRP price sell-off set to accelerate in April as inverse cup and handle hints at 25% declineUp until recently, ETF issuers would have seen a different environment for filing for XRP ETFs as Ripple Labs — the creators of the XRP token — and the SEC battled out a four-year court battle over XRP’s security status.

Gilbertie was also pleased that XXRP would launch during a market downturn driven largely by US President Donald Trump’s tariffs.“What better time to launch a product than when prices are low? ” Gilbertie told Bloomberg.

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Author / Journalist: Cointelegraph by Brayden Lindrea

Category: Crypto

Markets: United States

Topics: Manager Etfs Teucrium Spot Leveraged April Asset Bloomberg Xxrp Launch Gilbertie

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-08 @ 06:39:46 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 406 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 27709732

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