XRP ETF Incoming? Grayscale Launches First XRP Trust—Could XRP Skyrocket to $3.40?
Mustafa Mulla13 Sept 20242 min read
With Bitcoin and Ethereum already dominating the ETF race, investors have been eagerly speculating on which crypto would be next in line for regulatory approval. Everyone thought Solana would be the next big crypto to get an ETF. But guess what?
Grayscale just shocked the crypto world by announcing the very first XRP trust! Analysts are now predicting that within the next 4 to 8 months, the first XRP ETF could be launched. If this happens, XRP’s price might surge back to its earlier all-time high of $3.40.
XRP ETF Next In Line
Ripple (XRP) is now a prime candidate for potential ETF approval, especially with its CEO, Brad Garlinghouse, expressing strong belief in the inevitability of an XRP ETF. Garlinghouse is optimistic about the crypto market reaching a $5 trillion valuation, driven by successful projects like those within decentralized finance.
Ripple recently won a crucial legal battle against the SEC, which ruled that XRP is not a security. This victory has opened new opportunities for XRP, positioning it as a serious contender in the ETF race alongside Bitcoin and Ethereum.
Grayscale Launched XRP Trust
However, Grayscale has taken the first step by launching the U.S.’s maiden XRP trust, a closed-end fund aimed at accredited investors seeking direct exposure to XRP. While trusts and ETFs both offer investment options, they differ significantly.
ETFs need SEC approval and cater to retail investors, while trusts are aimed at accredited investors and have fewer regulatory hurdles. However, a trust can transition into an ETF if it gets the right regulatory green light, as seen with Grayscale’s Bitcoin and Ethereum trusts.
XRP ETF Approval Could Hit $3.4
Ripple’s XRP token experienced a 6% price surge yesterday following the announcement of the U.S.’s first XRP trust by Grayscale. Despite this initial spike, the price has since settled at $0.570 amid growing speculation about the approval of an XRP ETF.
Meanwhile, market expert Doctor Profit believes that within the next 4 to 8 months, the industry might see the first spot in XRP ETF, following Grayscale’s trust launch.
Analysts suggest that if an XRP ETF gains approval, it could drive XRP’s price back to its previous all-time high of $3.40.
Read Also: XRP ETF vs. SOL ETF : Which Crypto Will Hit the Market First?
