Leading ETF analyst Nate Geraci is convinced that major firms like BlackRock and Fidelity will soon join the race to create an ETF based on the cryptocurrency XRP. His assumptions are based on changes in the lengthy legal battle between Ripple and the SEC.
Analysts' Predictions on XRP ETF
Nate Geraci notes the confidence in the imminent approval of XRP-related products by major players such as BlackRock and Fidelity. These companies are unlikely to sit on the sidelines while competitors launch new offerings.
Ripple's Legal Victory
After more than four years of legal battles with the SEC, Ripple has managed to significantly reduce its fine from $2 billion to $50 million. Ripple's head of legal, Stuart Alderoty, also announced the removal of the injunction imposed as part of the final judgment.
Market and Development Prospects
XRP continues to be the third-largest cryptocurrency by market capitalization, following Bitcoin and Ethereum. With a current market cap of $144 billion, XRP is comparable to giants like Shopify and Citigroup. Franklin Templeton, managing $1.5 trillion in assets, has already joined the race to create an XRP ETF.
Analysts expect active development of the XRP market following the conclusion of legal proceedings and the entry of major players into the ETF creation. This could significantly impact XRP's standings in the cryptocurrency market.
