Despite the recent buzz around XRP ETF, the cryptocurrency has not seen a price rally and is actually down over 4% in the past 24 hours. Bitwise, a leading cryptocurrency index fund manager, has filed for an XRP ETF in Delaware, but concerns have been raised about the authenticity of the filing. Bitwise has confirmed that it is not fake. Ripple CEO Brad Garlinghouse believes the approval of an XRP ETF in the US is inevitable, but the launch seems unlikely at this point. However, the filing is seen as noteworthy and credible by analysts. The introduction of cash-settled XRP futures may set the stage for an XRP ETF, but it is believed to be a long game for Bitwise. Overall, the tepid market response suggests that an XRP ETF is likely not happening anytime soon.
- Content Editor ( u.today )
- 2024-10-02
XRP in Red Despite Bitwise's ETF Filing