Anticipated Spot XRP ETF in the U.S.: Industry Insights and Future Prospects
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Nate Geraci’s Confidence in a Spot XRP ETF
Nate Geraci, known for his roles as President of The ETF Store, host of ETF Prime, and Co-Founder of The ETF Institute, recently expressed renewed optimism regarding the future approval of a spot XRP exchange-traded fund (ETF) in the United States. In a recent statement on social media platform X, Geraci remarked, “The Ripple lawsuit is nearing its end, making the approval of a spot XRP ETF seemingly just a matter of time. Major players like BlackRock and Fidelity are likely to participate. XRP currently ranks as the third-largest non-stablecoin cryptocurrency by market capitalization, and leading ETF issuers won’t overlook this opportunity.”
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Major Asset Managers Eyeing Top Altcoins
Geraci, who had earlier predicted a spot ETF filing by BlackRock in mid-March, reiterated the likelihood of major asset managers expanding their focus beyond Bitcoin and Ethereum to include prominent altcoins. On March 14, he confidently stated, “I am ready to make a formal prediction: BlackRock will file for ETFs on both Solana and XRP. Solana could be filed any day now, and I expect XRP to follow once the SEC lawsuit is resolved.”
BlackRock and Fidelity’s Strategic Position
Highlighting the competitive landscape, Geraci noted that BlackRock, currently the frontrunner in managing assets for both spot Bitcoin and spot Ethereum ETFs, would not easily allow competitors to launch ETFs on two of the top five non-stablecoin cryptocurrencies without putting up a considerable fight. Geraci also anticipates BlackRock’s potential filing for crypto index ETFs in the future. The recent filing by Fidelity for a spot Solana ETF further underscores the trend of leading fund issuers venturing into the altcoin ETF arena.
Ripple Lawsuit Resolution Paves the Way
The renewed optimism surrounding a spot XRP ETF is bolstered by recent developments in the Ripple lawsuit. Ripple’s Chief Legal Officer, Stuart Alderoty, announced what he termed as his “final update on SEC v Ripple.” The U.S. Securities and Exchange Commission (SEC) has agreed to drop its appeal against Ripple, and Ripple has, in turn, agreed to retract its cross-appeal. The SEC will retain $50 million of the $125 million fine, with the remainder returned to Ripple. Additionally, the SEC plans to request the lifting of the standard injunction initially imposed at its behest, subject to a Commission vote and further court proceedings.
Legal Process and Timeline
Despite these advancements, pro-XRP attorney Fred Rispoli clarified that the case is not fully resolved until the SEC’s formal vote and subsequent filings are completed. Rispoli estimates that it could take up to 30 days for the Commission to vote and another 30 days for Judge Torres to sign off on lifting the injunction. In an ideal scenario, the matter could be fully resolved within approximately 60 days. The formal conclusion of the SEC lawsuit against Ripple would eliminate a significant barrier, making the potential approval of a spot XRP ETF more likely.
As of now, XRP is trading at $2.4495, maintaining its position above the trend line, signaling a promising outlook for XRP enthusiasts and investors.
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