XRP's price has been giving mixed signals lately, but interesting news is on the horizon. Grayscale is set to launch an XRP Trust, giving accredited investors direct access to XRP. This trust could lead to an XRP ETF in the future, attracting more traditional investors.
Grayscale's XRP Trust Launch
Grayscale is planning to launch an XRP Trust, providing accredited investors with direct access to XRP. Experts believe this could lead to the creation of an XRP ETF in the future, attracting more traditional investors.
Commentary from Bitwise CIO
Matt Hougan, CIO at Bitwise, recently appeared on the Thinking Crypto podcast. While discussing the potential of Solana ETFs, he also mentioned that they are evaluating a range of assets, including Avalanche, XRP, and Cardano. "We’re looking at a wide array of assets. We've entered the ETF era of crypto. It's much harder to go from zero to one than it is to go from one to 100 in anything. But also in ETFs, it's going to take regulatory changes, maybe changes in the direction of how the SEC thinks about this market," he said. "But there are a number of robust assets that deserve ETFs, in my view. In Europe, you see these ETFs helping investors get safe, low-cost exposure to these assets. I think we’re going to get there in the US. So, yeah, stack up the pillows behind your right shoulder. We’re working on them."
Current State of Solana ETF
Matt Hougan also mentioned the current state of Solana ETFs. He said they are contemplating entering the market to get a head start. They might file for ETFs in 2025, depending on their progress and findings. He explained that they are closely analyzing the SEC's stance. The SEC initially rejected the first two applications, but that doesn’t mean the opportunity is closed. Remember, Bitcoin ETFs faced rejections for ten years before approval. Bitwise is focusing on addressing concerns about market manipulation and showing protections through data. They’re enthusiastic about the Solana ecosystem and believe it’s strong, but the timing of their filings will depend on their research and results.
The development of cryptocurrency ETFs continues to gain momentum, and innovations like Grayscale's XRP Trust could significantly change the investment landscape for accredited investors. Meanwhile, firms like Bitwise continue their research and work on new ETF opportunities, including Solana.
Comments